From the category archives:

REIT Dividends

9 REITs That Had to be Destroyed in Order to be Saved

June 20, 2009

In 1968 at the height, so to speak, of the Vietnam War, U.S. Air Force Major Chet Brown was fresh out of ideas and common sense. Tired, frustrated and on the wrong end of a microphone after a battle for the provincial capital of Ben Tre, he famously allowed that it had become necessary to […]

Read the full article →

REIT Stocks: 4 Ways to Play the Carnage

March 4, 2009

If you’re looking for the best REIT stocks, you should review the definition of an oxymoron and maybe also have your sanity checked. Since REITs peaked in February 2007, the sector is down 75%, as measured by the benchmark MSCI U.S. REIT Index and 64% since last September alone. Equity REIT yields are the now […]

Read the full article →

REIT Dividends Crumbling With Commercial Real Estate Values

February 22, 2009

There were $16.6 billion in dividend cuts in the S&P in the first quarter, and REIT dividends were not immune as commercial real estate values and NOI came under pressure with rapidly deteriorating economic conditions. Arbor Realty Trust (ABR), iStar Financial (SFI) and Grammercy Capital (GKK) all eliminated their fourth quarter dividends. Click here for […]

Read the full article →

Warning: These REITs Still Pay Dividends, But Not In Cash

January 19, 2009

“I’ll gladly pay you Tuesday for a hamburger today.” Wimpy, character from the cartoon series Popeye As many of you may remember, Wimpy was not only a character from the Popeye cartoon series, he was also a glutton for hamburgers, and he would consume them at a ferocious rate. Of course, “Tuesday” would never come, […]

Read the full article →

Hybrid REIT Definition

August 18, 2008

A Hybrid REIT is a Real Estate Investment Trust that physically owns real estate (e.g., apartment buildings, office buildings, shopping malls), as well as debt instruments secured by mortgages on real estate (e.g., first mortgages, mezzanine debt, CMBS, collateralized debt obligations). A Hybrid REIT therefore generates income from rent and capital gains, like an Equity […]

Read the full article →

The Case For Buying REIT Preferreds

August 12, 2008

If you’re thinking about buying pref shares, here it is in a nutshell: Commodity prices are now way down and the dollar up, which may afford room for yet another Fed rate reduction. Because they sit a notch higher on the capital stack, combined with historically high spreads over the current 10 year UST, preferreds […]

Read the full article →

Makeovers Coming Soon To Mortgage REITs

July 27, 2008

“If you can take advantage of a situation in some way, it’s your duty as an American to do it.” C. Mongtomery Burns, the oligarchical CEO in television’s “The Simpsons” Could Re-Remics break the liquidity logjam in Mortgage REITs? It’s a distinct possibility, and quants all over Wall Street are dutifully burning up their computer […]

Read the full article →

High Yield Northstar To Set Dividend

July 21, 2008

Here is the dividend history (below). The announcement should be out after the market closes tomorrow, 7/22 or perhaps 7/23. What will it be, .36/share, or maybe something else? The recapitalization of Wakefield should provide some downside protection, but there has been virtually no new investment activity at Northstar since Q1 ’07. Consequently, Northstar is […]

Read the full article →

IStar Dividend Appears to be in Jeopardy

July 18, 2008

Is IStar the Canary in the Coal Mine, or is this Just Fremont Coming Home to Roost?IStar saw the need to issue interim estimated earnings estimates for the second quarter today, and it wasn’t encouraging. As a result of loan losses and impairments uncovered during the Company’s quarterly risk review process, IStar said it now […]

Read the full article →

Blackrock: Back up the Truck on CMBS

July 1, 2008

Last week, traders reported volatility over CMBS and CMBX as headlines of bank downgrades and quoted predictions of summer oil at $170 a barrel influenced investor confidence. CMBX spreads widened and dollar prices dropped across all tranches of all series during the past week, according to JPMorgan research. Spread widening has continued this week amid […]

Read the full article →

← Previous Entries