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Alpine Global Premier Propertie Message Board

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  • bluebuick2003 bluebuick2003 Oct 7, 2011 4:04 AM Flag

    message to AWP longs

    fxdude,

    it sound like you know what you are doing. i'm not too worried about you. is it correct that you would sell AWP once the discount is gone ?

    they haven't made money on the NAV so they will have to cut the dividend. most likely, AWP will trade to a premium before the cut. just like AOD did.

    i'm trying to help out the folks that are going to buy and hold for a long time thinking the income is safe for the long haul. it isn't, no chance of keeping the current payout.

    ps. and sorry if it sounds like i'm gloating. i'm just trying to keep people informed on the performance of the fund versus like investments, not touting my own performance.

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    • Yes, I would lighten up or sell all of AWP if it closed the discount to NAV and went to par.

      Can you tell me why you are so certain they will cut the dividend? While it's nearly a 12% dividend at these prices, it's only a 9.4% dividend on the NAV. I looked at some of their holdings as of 7/31, and there were a few 15% yielders in the mix. Also, in Alpine's announcement on 7/5/11, management said this: "The Fund intends to manage its monthly distributions to include amounts that have otherwise been paid through a year end special distribution." So, this wasn't a raise in the dividend to an unsustainable level, simply changing the policy of paying a year end special dividend and establishing the dividend at a regular 5 cent level. I would like to find some information about whether or not any of the 5 cent dividend is a return of capital. I can't find that anywhere.

      http://www.alpinecef.com/press/AWP-divrelease-20110705.pdf

 
AWP
5.61-0.02(-0.36%)Sep 27 4:00 PMEDT