While they have large NOLs, so they do not have to pay a dividend, they can reinvest the capital they already have at very high ROIs, as most of their peers are showing. At the moment they reestablish the dividend they can raise capital at much higher prices, as NCT, and others, demonstrated beginning of this year.
The last time I checked, it was a expensive compared to some of its peers. Very little FCF to support the high book value they are claiming especially when vacancy rates on the owned real estate is closing on the national averages.
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
Todd, I mean that Gramercy is a REIT so it will eventually pay its FCF in dividends.
First, they will have to restore the preferred equity dividends and that should be of some help. The common equity dividend will take some time, because of the large NOLs, but it is not going to be forever.
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
1. End of negotiations dee-in-lieu foreclosure 2. Possible CDO bond repurchase 3. Publishing delinquent 10-K and 10-Q 4. Possible reestablishment of preferreds dividend
The Washington Post: Buffett's Next Target? [View article]
Great Response!
Looks like a great opportunity and loved the analysis. At the same time, Buffett avoids frictional businesses like Kaplan. He has avoided Life and Health insurance for that same reason. Anyway, great idea.
Newcastle Investment: A Cheap Stock Ahead of Earnings [View article]
Cash flow, cash flow, cash flow.
NCT is cheap, but not as cheap as you imply. Plus you show no understanding of the industry sharing ratios that are heavily influenced by one time gains.
Portfolio Results; Learning From Past Mistakes [View article]
Jae, we have not talked much lately but that does not mean I am not keeping track of your progress, copying some of your ideas, and cheering your successes.
There is an old interview where you said that managing money was not one of your goals. Also I remember thinking that time that you probably were going to change your mind: you had the character and the work ethic, you just needed the self confidence. I am glad you found it and that others have recognize your capabilities.
Gramercy Capital: Loose Ends [View article]
Gramercy Capital: Loose Ends [View article]
Gramercy Capital: Loose Ends [View article]
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Gramercy Capital: Loose Ends [View article]
Part 1: a Graham stock wrapped in a mistery
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Part 2: the mistery
variantperceptions.wor.../
Part 3: management team
variantperceptions.wor.../
Part 4: loose ends
variantperceptions.wor.../
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
variantperceptions.wor.../
Part 4
variantperceptions.wor.../
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
variantperceptions.wor.../
Why You Should Avoid These 5 Banks [View article]
He used to be a smart guy and know his circle of competence. Then he got into AHR, DJSP, CCME, macro opinions, ... and we lost him.
Glen, this is an intervention.
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
First, they will have to restore the preferred equity dividends and that should be of some help. The common equity dividend will take some time, because of the large NOLs, but it is not going to be forever.
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
2. Possible CDO bond repurchase
3. Publishing delinquent 10-K and 10-Q
4. Possible reestablishment of preferreds dividend
The Washington Post: Buffett's Next Target? [View article]
Looks like a great opportunity and loved the analysis. At the same time, Buffett avoids frictional businesses like Kaplan. He has avoided Life and Health insurance for that same reason. Anyway, great idea.
Newcastle Investment: A Cheap Stock Ahead of Earnings [View article]
NCT is cheap, but not as cheap as you imply. Plus you show no understanding of the industry sharing ratios that are heavily influenced by one time gains.
Ensco, Pride Merger: A Match Made in Heaven [View article]
Portfolio Results; Learning From Past Mistakes [View article]
There is an old interview where you said that managing money was not one of your goals. Also I remember thinking that time that you probably were going to change your mind: you had the character and the work ethic, you just needed the self confidence. I am glad you found it and that others have recognize your capabilities.