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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: Steve Felix who wrote (15667)	5/6/2013 10:02:41 PM
From: Elroy	Read Replies (2) \| Respond to of 34328

This isn't my favorite thing for them to do, but they have been doing it right, above NAV: _________________________________________________________________ "On February 11, 2013, we entered into an equity distribution agreement relating to at-the-market offerings from time to time of our common stock. During the period from February 11, 2013 to May 6, 2013, we sold approximately 17.2 million shares of our common stock at an average price of $11.14 per share, and raised $191.9 million of gross proceeds, with all issuance at prices above net asset value per share." I'd greatly prefer that they raise capital that way rather than through secondaries. The last secondary shaved 6% off the share price. Do you think that since they are doing these at the market slow offerings that they may not do secondaries? If they stop doing secondaries I would think the share price might rise closer to a level where the yield reflects the real risk in the company. As it is the share price can't get much above 1.1x book because everyone knows they will do a secondary and who wants to buy in front of a 6% price drop? Any idea why the stock is down in after hours?