Seeking Alpha
  • Chris DeMuth Jr.
    New Rangeley filing on $GPT: http://1.usa.gov/1fvzCFL
    2/1/14
    Reply (15)
    • kadison: Chris, do you hold them for yield or potential growth?
      2/1/14
    • Chris DeMuth Jr.: Both. 8 and a quarter % yield and growth to par if/when they take it out. It is a well managed company and a safe investment. Worth owning.
      2/1/14
    • kadison: I was more thinking, should not the GPT.PRA be trading at least at the same yield as GPT? => it's price should increase to reflect that?
      2/1/14
    • Chris DeMuth Jr.: The problem is that they can (and probably should) call it at $25.
      2/1/14
    • smcisaac: Did they announce a dividend rate on the common yet? If so, I missed it.
      2/1/14
    • Chris DeMuth Jr.: Not announced yet.
      2/1/14
    • Special Situations and Arbs: Chris, nice idea. What are you using as downside on your sheets?
      2/1/14
    • Chris DeMuth Jr.: $22.50 down and $25.00 up
      2/1/14
    • Special Situations and Arbs: Thanks. Seems like this makes sense in either a taxable or tax advantaged account now that the catch up dividend has been paid.
      2/1/14
    • Chris DeMuth Jr.: Correct. I got it down from an eight digit exposure to zero by the time the accrued paid (while adding in tax-advantaged accounts). Now ok
      2/1/14
    • buyin: Any guess on the common dividend -- 5 cents??
      2/1/14
    • Chris DeMuth Jr.: I would do $0.05. They may start lower so that they can increase it each quarter, though. So I would not be terribly disappointed at $0.04.
      2/1/14
    • buyin: Thanks -- I agree they really have an opportunity to grow. I like the industrial NNN -- much more than malls and strip centers.
      2/2/14
    • kadison: http://bit.ly/1r7uMr6
      8/12/14
    • JDanziger: Chris, any view on when the A's get called? They need a 30 day notice, so figure it may be any day now.
      8/13/14