From the category archives:

High Yield Dividends

REITs May Save $10 Billion With Stock Dividends; Strategy Spreads Across the Pond

January 31, 2009

We welcome prolific and urbane Zero Hedge to the REIT beat with their report on Simon Property Group’s (SPG) decision to join the list of REITs paying dividends in stock. The list continues to grow, seemingly limited only by the relatively lethargic schedule of dividends and earnings announcements. As Bloomberg reports in video [...]

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High Yield REITs: The Week That Was

August 25, 2008

I wish it were the week that wasn’t. Concerns about the commercial real estate market bubbled to the top of the news and Research Recap did a great job of compiling it all. This week investors looked back to a June report from Standard & Poor’s showing that the CMBX index was causing commercial real [...]

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Bloomberg Interview With Sam Zell: The Credit Crisis

August 23, 2008

Sam Zell, a self-proclaimed “professional opportunist,” founded his privately-held firm with a fraternity brother in 1968. The two bought up cheap real estate throughout the U.S. from distressed owners, and then kept buying when values recovered and boomed.

In this interview, he speaks about the need to support Fannie Mae (FNM) and Freddie Mac (FRE) debt, [...]

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Crystal River’s New Loss-Driven Investment Strategy

August 20, 2008

“The future ain’t what it used to be”Yogi Berra
Crystal River (CRZ) has had an absolutely terrible time of it. The REIT went public at $23 a share in July of 2006, and then blew through about $350 million, or almost $14 per share, in just eighteen months.
The second quarter of 2008 continued to show the [...]

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High Risk, High Yield Strategy Keeps Anthracite Under Pressure

August 10, 2008

Anthracite reported mixed results on Friday, well shy of the Company’s .31/share dividend, noting that it was still receiving margin calls on the 18% portion of its portfolio that was not match funded. The Company’s cash levels are low ($38.6MM unrestricted) relative to an amortization payment of $31MM required on September 30th under its newly [...]

More on this topic (What's this?)
Anthracite: The Silent Bailout? (Mortgage REIT Journal, 4/7/08)
($AHR) Anthracite Capital Hears from the NYSE on Listing Standards (Stock Blog Hub, 9/18/09)
Read more on Anthracite Capital at Wikinvest
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High Yield Mortgage REITs: The Perfect Storm?

April 17, 2008

Volume of Maturing Mortgages to be Low in 2008 and 2009, Reducing Refinance Risk Even Further, but Mark to Market is Discounting REITs to the Depths of Atlantis.
After a couple of alarming headlines in Seeking Alpha related to commercial real estate, the most recent of which was “Commercial Real Estate Collapsing”, REIT Wrecks decided to [...]

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$4 Billion of Sweet CDOs: Northstar REIT Ready to Shine With 19% Dividend Yield

March 14, 2008

As the British comedian Douglas Adams once wryly noted, “Nothing travels faster than light, with the possible exception of bad news, which follows its own rules”. Indeed, the bad news careening through the financial services industry has now permeated every corner of the market, forcing even the once impermeable Bear Stearns (BSC) into a government-sponsored [...]

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Muddled REIT Book Values Create Opportunities

March 11, 2008

REITWrecks: March 11, 2008
Investing in REITs is not for the faint of heart these days. Write-downs are easier to come by than cheap commissions, and huge losses are more common than ice cubes in a fresh cocktail. And while you may need a cocktail if you own any of these stocks, calculating GAAP book [...]

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