Buying mortgage reit RSO.
Stock's been a little tarred recently. I'm guessing any stock with "mortgage" in its business description has suffered. RSO apparently deals primarily with commercial real estate though, and that's a different market from home loans or subprime loans (I hope).
Anyway, business looks good (imo) from last night's year-end report.
The stock's up today (+$1.23 to $16.89 ), and while I would like to purchase more shares closer to book value ($13+), I'll double up on my few shares now. If management can deliver, the dividend yield is attractive (to me):
"The Company estimates that, for the year ended December 31, 2007, it will pay dividends between $1.65 and $1.80 per common share. As of both December 31, 2006 and February 28, 2007, the Company reports that the credit performance of its investment portfolio continues to perform as anticipated."
I assume "as anticipated" means "on track" to deliver those dividends.
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