Well, I guess I'm fallin' for the 'con', Moron. I added more shares at $3.87 this morning. Looks like a good purchase to me! But then again, I may not be as intelligent nor have the 'insight' like you.
what con???? i don't understand where you are coming from. how can they grow the business and buy more (severely discounted) assets as a REIT? THEY CAN'T!!! the only ways to expand the business are issuing more stock or adding more debt. the are among the lowest leveraged mortgage REITs in existence and that is their business model, so they avoid debt. issuing more stock makes this a LESS RISKY INVESTMENT by increasing revenue streams and further diversifying assets. the only additional risk assumed is their ROI for the new capital which they have already demonstrated twice this year that it won't be a problem.
I know what you are saying Fish. They made no announcement last week about the offering of 125 mil shares. Do you honestly think they knew they were not going to do that? Then when they do make the announcement. The stock drops .24 today in premarket and they lock out traders from taking it futher down for an hour today.
While I agree with what you are saying. This was very bad timing and a bad move on their part. It really puts a neg light on what they are doing.
I did say last week 3.80 was the floor and we almost reached that so the guy calling me a moron needs to rethink what he/she is saying. I know what im talking about also.