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First Industrial Realty Trust Inc. Message Board

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  • rollnon rollnon Mar 4, 2011 1:05 PM Flag

    Interesting Day

    Yours is half full mine is half empty. The infusion of 100Million of capital is acretive to NAV so I don't consider this as dilutive in the near term.

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    • No, it is NOT accretive to NAV. It is flat to NAV, at best.

    • Accretive is an interesting concept.

      Ceos of great corporations will wax and wane on it, but investors need to ponder it.

      Yes, in appropriate circumstances, it can make sense, but inappropriate ones, it sucks.

      It is a capital transition, nothing more, nothing less, the question is which side you are on.

      Few dilutions end up actually accretive, the ones that do are often early stage companies that end up managing the capital well, or well managed companies of stature, that have a long history of it making it through tough times.

      Many, like this one appears to be, are simply capital moves that current management happens to think will work.

      Their last report was not good, IMHO, kinda sucked actually.

      Maybe next Q huh?

      If the current dilution does not hit earnings, do you think the hit or nonhit is sustainable? Or, do you think, whatever?

      • 1 Reply to kabtb
      • I think I decided to cover most of my short yesterday, at a $1 a share loss.

        I see they are actually issuing the new shares tomorrow. If this pig doesn't drop, after that, by Friday, I'll cover the rest.

        I'm surprised it is up, on a disappointing earnings report. Management, apparently, was too (and went for the "gusto" of the share issuance all at once).

        Stil stock should have corrected more on the earnings release. Imho. But I guess there are long term buyers out there, now.

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