SA News • Mon, Sep. 22
There are no Transcripts on RIT.
Mon, Sep. 22, 4:02 PM
- "The issuer's common stock has traded at a double-digit discount to net asset value for more than a year," says Phil Goldstein's Bulldog Investors, disclosing a 5.54% stake in LMP Real Estate Income Fund (RIT -0.3%). "The filing persons believe that shareholders should be afforded an opportunity to realize liquidity at net asset value for their shares via a self-tender offer, open-ending or liquidation."
- The fund's NAV as of Friday was $12.99 per share, putting today's price of $11.16 at a 14.1% discount.
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RIT vs. ETF Alternatives
Under normal market conditions, the Fund will invest at least 90% of its total assets in income-producing common shares, preferred shares, convertible preferred shares and debt securities issued by Real Estate Companies, including REITs. The Fund may also
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