Thanks for your followup. It does not look good for a company to be so inconsistant in their dividend program. Looks like you reminded them when you called . Think they forgot..or worse a stall. Do thet have a web site?
What do you think of their acquisition of Mona Realty Capital and Glaser. It appears they have now reorganized and have created a new division called MMA Realty Capital which does direct investing in senior debt, mezz, b-note, and equity. Do you think this division could have a lot of potential?
I believe that this report was sensational especially considering the fact that the financial sector has been going down the drain for the last year...compare it with CHC MMA's twin co. and note that their stock dropped 3 points after their report because they are being squeezed by rates and are not succeeding doing the same business model saying everything about the difference in management styles/efficiency/diversification success,etc...Morningside just came out with a positive analysis of the report and reiterated a $30 goal...a very conservative rating service...I have been heavily invested(my core pos.) in MMA since it went public and am delighted with high tax sheltered income,appreciation,growth -diversification of income streams,etc.I have been for years trying to get management to get their success story out to the income starved investors(remember 1 % MM rates for years),.the only equivalent of this yield is in Canada for discerning investors..Even now,any media exposure would push the price to 30$ IMHO...
"only earning from new mortgage fees not the spreads they count on to pay the fat dividend"
That sounds like serious trouble to me. I've been wondering how the MREITs could keep paying these fat dividends. I have noticed various of them issuing preferreds at 8% or so, more than they earn on loaning the money out. That implies that they are leveraging the money they raise, and in a rising rate market, that sounds risky to me. I've been very happy with MMAs rising dividend/distribution, but mystified by how they're doing it while other MREITs are taking hits.