Can anyone explain why RSO-preferred B still lags ? Regardless of the common stock dividend rate and the impending reverse split, the preferred dividend ( well over 10% at current prices ) should be safe .
While the decline in share price this year is very disappointing, Stag would seem to be undervalued considering its consistent record of growing assets at 25% annually , a 7.5% dividend covered by FFO, a recent Fitch upgrade, insider buying .
After noting in the May earnings call that they would " complete the $30M share repurchase ", co. bought a minimal amount in the most recent quarter. I have already queried IR in that regard ; and hope to get an answer in today's call .
I'm a long-term shareholder (sorry to say) who has written to co. headquarters and to investor relations on multiple occasions urging a share buyback ;have never received a response. When communicating with other companies in which I own stock, I invariably receive a prompt response by email or by phone. So much for GURE interest in their shareholders.
The co. could buy back several million shares without impacting their potential for acquisitions ; what a positive message to the investing community, plus a boost to EPS.
With regard to many message board references to " the shorts", GURE has always had a very small short position ,
Thanks for your informative post, a rarity on most message boards. At the May 5 earnings call, " While we haven't recently repurchased shares due to capital needs, we are now committed to share repurchase..." Do you have any info re share repurchase prior to the June 15 lockup ?
While managements do change course, I've noticed a reluctance to do so in view of the legal environment . On 5/5/15 they also reaffirmed " an AFFO of at least .70 for 2015 and the .16/quarter dividend ."
I agree with your strategy. As the owner of RSO common and Preferred-B, I would not add to my common position until next earnings call , but would look at preferred shares as a great , relatively safe, source of dividends.
Almost always listing on the NYSE is a positive. Can't explain yesterday's drop unless it's a case of buying on the expectation and selling on the news. In any event, a REIT that trades at well below book, easily covers its dividend of 6.5%, has recent insider buys at significantly below current share price and is growing rapidly in a housing segment with good demand seems little a worthwhile investment. This dip may represent a buying opportunity.
During the 1st quarter earnings call, the new CEO noted consideration of " reducing management fees on incremental capital raises ", adding, " I think that this is the right thing to do." Sounds good until one considers that with NAV at $9.18 and share price at $6.48, and with management committed ( I hope) not to issue shares below NAV, the chance of a capital raise in the foreseeable future is slim to none. So " doing the right thing " seems to mean business ( and fees ) as usual.
Just noticed that the co. web site doesn't have an investor section with record of dividends, presentations, earnings calls and other pertinent info. As I recall, this info was available on this site in the past. Comments appreciated
Your posts are usually informative, so I'd appreciate your thoughts on why a Greek default would have any effect on BDC earnings and/or dividends . Obviously the overall market would likely have a negative reaction ( hopefully short-lived ) to a default by Greece.
It follows that share price will drop following announcement of new share issuance. I give management credit for combining this announcement with the anticipated increase in dividends.
Share price was $16.04 prior to .38 dividend less than 2 weeks ago; share price now $16.66 - we're on our way.
Stock jumped significantly when announcement made; but has now fallen back even though the mandatory buying triggered by addition to the Russell indices won't begin until June 26 . Seems to me that we should see some upward movement in stock price after the 26th .
During the May 5 earnings call, management made the following comment, " While we haven't recently repurchased shares due to capital needs, we are now committed to share repurchase..." In October, 2014, a $50 M share repurchase was authorized. As a long-term shareholder, I hope that RSO acts to repurchase a sizable number of shares -a no-brainer considering the sizable dividend and discount to NAV of share price.