Patrick Harden

The Ten Highest Yielding NYSE Stocks

Gramercy Capital will not be yielding 32% much longer. From the Q2 conference call: "Consistent with all of these strategies and goals I’ve enumerated just now, the directors of Gramercy intend to evaluate the dividend policy in the third quarter for possible reduction." Gramercy's own guidance for $0.50/share in quarterly earnings suggests that the dividend will be lowered to at least this level, if not lower. The stock was downgraded by Stifel Nicolaus from "buy" to "hold" this morning.

The Five Largest Quarterly Dividend Stocks

CapitalSource is almost certainly going to reduce its dividend. Consider the following comments from a recent press release: "Upon the closing of the asset acquisition from FIL, we expect to reevaluate our dividend policy and may decide to retain a majority of our earnings, consistent with dividend policies of other commercial depository institutions, to redeploy in attractive lending opportunities, subject to satisfying our minimum distribution requirements to qualify as a REIT for 2008."

iStar Financial and NorthStar Realty have plenty of capital gains available to support their dividend stream.