Ken: Had you shown us your calculations to support your 14% conclusion, perhaps you would not have posted an error. Posting the basis for your conclusions works as a self-test, especially with calculations. I can't tell you how many times I caught a calculation error when posting and rechecking the calculations. It's not too infrequent.
Price only: 17.58 at 12/31/14 to 18.09 yesterday = up 2.90%.
Price plus cash dividends to date: 17.58 to 18.89 = up 7.45%
Dripping the Fidelity way in my little IRA: 1085.547 shares to 1133.994 shares = shares up 4.46%. Dollars were 19,084 at 12/311/14 to 20,514 yesterday = up 7.49%.
Above is nrf only.
As of the 4/23 earnings press release they owned 249 communities totaling 92,500 developed lots.
As of the dividend press release today it was 251 and 93,100.
So it's a net increase of 2 communities and 600 lots. But we don't know how many, if any, communities/ lots were sold between these two press releases.
Very small incremental growth is OK with me. I'd rather see the management effort in assimilating and increasing the ALL acquisition noi.
Don't have a new estimate but 49 looks grim without big news from both. NSAM took more than a 10% hit over the proposed dol regulations. This cloud will stay until the issue is resolved and I doubt that will be this year.
Don't understand the hit on nrf, especially the horrible price reaction around inclusion in RMZ. Fear of rising interest rates?....yeah, some, but not to the degree we've seen.
In any event, the price at a given time is unimportant to me except psychologically and for flipping. I expect to own both for a long, long time.
Have you noticed USW is not talking strike? They watched Grupo over Cananea. Asarco is their least profitable mine. I think the USW knows Groupo would just wait it out....for years, if necessary to break the union, just like Cananea.
I told this board to watch for the percentage shift toward nsam when I saw the articles of incorporation authorized 1 billion shares for us and 500 million robber shares. I believe they really expect to eventually be given 1/3 of nsam for free. That's why the deck is stacked in nsam's favor.
It's NRF issuing shares to DB under the forward sales agreement. DB then deliver those shares to the lender thus closing that portion of of its short interest.
The problem is we don't know how many nrf shares were issued so we can't tell what the non-DB shorts did.
Nope. They already reported the details of the offering along with a copy of the forward sales agreement.
Issuing shares now is just an execution on a disclosed contract. No separate filing required as long as in accordance with the contract.
Wall Street Journal article on exec pay in today's print and electronic editions mentions NRF by name. See IV board for link stupid yahoo will not let you post.
Grupo is immune to union pressure. They dumped asarco into bankruptcy during the last strike and bought it back only because asarco had a 9 billion judgement against them for breach of duty when they caused asarco to sell its interest in minera mexico (mexican mines) to then PCU, now scco, for too little money. Cost them 2.2 billion to buy asarco out of bankruptcy so they could extinguish the judgement. As part of that deal the then union contract was extended a year or two with no changes. I believe this is the first post-bankruptcy negotiation.
Risky move for the union. That leaves grupo open to selling the mine without a "take-the-union-contract" provision.
Perhaps the IRS rules don't count a mutual fund or etf as an individual. Don't know the answer. In any event Vanguard owns 11.82% (or slightly less due to more shares out). It's obvious that nrf did not try to stop them from going over 9.8%.
Well, a minute before I typed this, on price alone, meaning excluding dividends, year to date, NRF is down 2.62%, VNQ is down 4.27% and HCN is down 9.96%.
Since NRF's dividend yield is more than double vnq"s and substantially more than hcn's, the differences in relative total return ytd are even greater than price alone.
Of the 3 cited, nrf is the clear performance winner ytd.
Go listen to the replay on nrf's website. It was like Hillary saying she erased all her "non-government" emails because she has nothing to hide. Ted Bundy said Charles Manson was a really bad person.
Forgot one: The socialist pig said over and over again, "If you like your health plan, you can keep it".
Not so good for nrf if 6.5% (net of nsam) yield was held inside nrf at nrf multiples. It would be significantly dilutive on an absolute basis and slightly dilutive on an aggregate basis. However, this property will be held by NRE, which Hamo says will trade at significantly higher multiples than nrf's current.
If Lieberman can get the registration statement done and declared effective before the end of the year, nrf will not hold this property for long, thus minimizing the dilutive effect of a 6.5% yield.