I guess Im going to hold mine for greener pastures. Yahoo shows a $5.84 book value and I fear I was a little overly pessimistic when the stock was down.
Still hoping for some kind of buyout or merger that gets us somewhere close to book value.
As the price dropped, I was very concerned. Now its up and Im a little more optimistic which is not usual for me. (Oftentimes, Im trading them but not here)
I guess I just assume their are leaks when companies are negotiating things even though in many cases there are not.
In many cases, the good news seems to leak ahead of time too though.
One of my largest holdings, MAIN has been doing very well so I have been lightening up on it as the momentum folks roll in.
Took a small position in WSZZ.ob at 81-84 cents. Wanted more but couldnt get it and I hate to pay up. They have cash, cash flow and noted value author Paul Sonkin keeps buying as well as 2 other large holders. Not going to make me rich but I figure its a "safe" bet for a market Im worried about.
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Also I wanted to mention FSP here because of the insider buying. (No position, but Im looking for income stocks)
Its a REIT and whats interesting, besides the dividend, is that multiple insiders have been buying.
It seems its a merger of some private investment partnerships or something.
To be honest, its probably above my level of competence which is why I thought I would ask for others opinions.
Franklin Street Properties Corp. ("FSP"), a real estate investment trust, is in the real estate investment business. Since its origination in 1997, FSP has experienced growth by applying an uncompromising discipline to its real estate investing. These disciplines have been learned over many years of property investment and reflect the natural characteristics of real estate as an asset class within the broader capital markets.
FSP operates in two business segments:
REAL ESTATE OPERATIONS: FSP owns an unleveraged portfolio of real estate, which includes apartment complexes, office buildings and industrial use properties. Its real estate operations include leasing, interim acquisition financing and, through our subsidiary, FSP Property Management LLC, asset/property management services.
FSP offers a product/strategy that is different from most, if not all, of its competitors. FSP's knowledge of the real estate industry and understanding of its return generating characteristics allows it to identify superior assets for investment. Unlike most real estate investment companies, which utilize varying degrees of leverage in an attempt to enhance their real estate portfolio's returns, FSP employs no leverage. This business model significantly reduces the risk profile of FSP's product offering by more appropriately matching the long-term nature of real estate as an asset class with "permanent" equity. By eliminating foreclosure, financing and refinancing risk from the product offering, FSP is able to offer better-quality risk-adjusted returns. FSP believes it can significantly lower investment risk while enhancing current income and long-term appreciation potential by owning property on an all-cash basis (i.e.; without any mortgage debt), and diversifying property investments by type (i.e.; residential, office and industrial) and geographic location.
INVESTMENT BANKING/INVESTMENT SERVICES:
Our subsidiary, FSP Investments LLC (member, NASD and SIPC), a real estate investment banking firm and a registered broker/dealer, organizes single purpose entities that own real estate and conducts the private placement of equity in those entities.
FSP provides its shareholders with the opportunity to participate not only in the rental income and appreciation potential of its properties, but also in the income from all other business activities that are part of what has become a nationally-recognized real estate investment bank and property manager.
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9-Aug-05 MACPHEE, R. SCOTT
Executive Vice President 9,000 Direct Purchase at $17.79 - $17.99 per share. $161,0002
9-Aug-05 FOURNIER, BARBARA J
Chief Operating Officer 500 Direct Purchase at $17.95 per share. $8,975
9-Aug-05 DEMERITT, JOHN G.
Chief Financial Officer 2,000 Direct Purchase at $17.99 - $18 per share. $36,0002
8-Aug-05 CARTER, GEORGE J.
Director 4,000 Direct Purchase at $17.99 - $18.03 per share. $72,0002
15-Jun-05 CARTER, GEORGE J.
Chief Executive Officer 5,000 Direct Purchase at $19.20 - $19.25 per share. $96,0002
14-Jun-05 CARTER, GEORGE J.
Chief Executive Officer 6,000 Direct Purchase at $19 per share. $114,000
13-Jun-05 CARTER, GEORGE J.
Chief Executive Officer 5,000 Direct Purchase at $18.16 - $18.2 per share. $91,0002
13-Jun-05 DEMERITT, JOHN G.
Chief Financial Officer 3,000 Direct Purchase at $18.20 - $18.25 per share. $55,0002
13-Jun-05 MACPHEE, R. SCOTT
Executive Vice President 500 Direct Purchase at $18.20 per share. $9,100
10-Jun-05 MACPHEE, R. SCOTT
Executive Vice President 1,000 Direct Purchase at $18.55 per share. $18,550
8-Jun-05 FOURNIER, BARBARA J
Chief Operating Officer 500 Indirect Purchase at $19.60 per share. $9,800
6-Jun-05 BURKE, JOHN N.
Director 1,000 Direct Purchase at $20 per share. $20,000
3-Jun-05 CARTER, GEORGE J.
Chief Executive Officer 9,000 Direct Purchase at $20.80 - $21.4 per share. $190,0002
2-Jun-05 CARTER, GEORGE J.
Chief Executive Officer 6,000 Direct Purchase at $18 - $21 per share. $117,0002 |
