The div.on this hybrid security is still intact and cannot be cut.I spoke with a company representative early this week.In case it has to be suspended it will accumulate until payback of priniciple($25 a sh),rollover or coversion in 2005.In case of bankruptcy,it will have seniority over common stock.A much better investment than common with huge potential return. Have fun, SINGHMAN
Two relatively large blocks of this thinly traded stock have been sold today,which would account for a large price drop.Should be considered a great opportunity to buy for its dividends and underlying breakup value.I do hold a lagish position and would be buying more.Thoughtful comments welcome. SINGHMAN
Book value per ProVest is 11.19 and the contact with BPis good till Sept2004.Therafter it is renewable yearly for seven years.There seems to be no business reason for stock price drop except for the dividend which is currently just the basic contract amount.It will go up if tanker activity increases and day rates rise,but will no go down. Stock sells below NAV WITH 11% DIV.Excellent buy. SINGHMAN 19
Very thoughtful board.Here is my first contribution. I agree with George that NLY is a buy at current price.To the reasons he has given should be added the fact that the stock price is selling near shareholdres equity.Every other MREIT I have checked is selling at a premium,NLY appears to be the best bargain. SINGHMAN
Have bought two lots since yesterday.NFI and RAS are smaller but similar to AHR.Both moving up strongly,while AHR cotinues to go down.I wonder if it has something to do with NFI andRAS being added to Russell 3000?Misunderstanding of yesterday's large block trade between two institutions could be another factor.Any thoughts?
Have owned KTC and SKM for sometime.Among the best investments in a highly depressed sector-Telecom.Both profitable with good balance sheets and growth,but have traded in 20-24 range for many months.Hopefully,Govt getting out of the way of KTC will finally unlock the value.Merrill lynch has strong buy on both.Target priceof 28+. Congratulations for a good buy.