First-quarter 2009 distributions are payable on March 31, 2009 to shareholders of record on March 13, 2009. The ex-dividend date is March 11, 2009. Details for each fund's March 2009 distribution follow, including the annualized yields based on NAV and market price as of December 16, 2008.*
Yeah, That's the long and short of it. You're seeing the dividend getting an approximately 71% quarterly shaving. Still, if it can maintain it here then RQI is sporting a nice yield of 16% (to the closing price of 12/13/08).
It's a closed end fund selling at steep discount to NAV. REITs have been slaughtered all across the board yet some still complain nothing has been priced in. The only thing NOT priced in is a trillion USD$ worth of reckless, wanton stimulation.
Once that Roman Orgy of spending is underway, I'm hoping RE will take part in it. Until then, I'll continue to wear my RQI toga while collecting my .13/ share.