Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (33827)	3/17/2009 10:25:25 AM
From: Paul Senior	1 Recommendation Respond to of 78763

LXP. EKS, I'm surprised the stock is higher now than yesterday's close. Looks like on balance that shareholders aren't concerned about the stock dividend or else it's already been built into their expectations and the stock price. I've been selling all my shares of the common this morning, although I may return to buy again. I am holding on to the preferred D's. Winthrop Realty [t]FUR[/t], another I am suffering with, has a position in LXP. This is what Mr. Ashner, FUR Chair. and CEO (and a former exec and current stockholder of LXP) had to say about FUR's LXP investment in FUR's Mar 5 earnings call: "Charles Fisher – LF Partners The Lexington share purchase that you did with [Vernado] not that long ago, I guess the Lexington shares are down about 50% since that date and the preferred at Lexington are yielding 25% is there something that the market knows that we don’t or is this just another sign in your opinion of market over reaction. Michael Ashner I only know what you know, I’m only have access to public information. We also own the Lexington preferred in our portfolio. I believe that Lexington has been impacted based on all of the things that are effecting REIT stocks in general right now perhaps over effected by it. We’ve got a lot of confidence in [inaudible], Robert Rusk and we believe that they’re well focused on the issues that face their company and once those issues are addressed primarily their balance sheet issues, that the stock will do well. The company has given guidance that it has FFO of like $1.35 a share for 2009. That’s how we look at the stock, probably not much differently then you do. Charles Fisher – LF Partners The main reason I asked is obviously you used to run the company so this is one that— Michael Ashner No, I was one of three people who oversaw the company. Will [Egman] I commend him, runs that company and did a good job then and I believe he’s doing a good job now. "