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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (36480)	1/15/2010 1:00:30 PM
From: Paul Senior	Read Replies (1) of 78745

I'll have to consider. An adjusted payout of $1.31 would mean about .33/sh quarterly. As mentioned, the distribution history is weak. Two payments, one of .50 and the next of .40. We would be continuing in the wrong direction with .33. Based on numbers I see, I calculate stated bv after share issuance to be $19.96/sh. That's a drop from my number of $20.70 before share issuance. Something not right. Seems like stockholders might be getting hurt two ways. Why buy fully-leased buildings if there's no value to be added, and in fact, it's detrimental to stockholders, the presumed owners of GOV? I hope, almost expect, that this calculation of adjusted payout = $1.31 is not correct or not the entire dollar amount that the reit will distribute annually.

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