I purchsed more share in HRP today at $7.78 per share.
HRP Properties Trust (HRP) is an office building REIT with 18mn square feet of space. Funds From Operations has been stable for the past year, although occupancy has slipped slightly. FFO Per Share at 29 cents a share is still above the dividend at 21 cents as of September 30 2007. The Company added $48mn in new buildings in the 3rd Quarter of 2007 which should help cash flow slightly. Debt levels are reasonable.The stock's at $7.78, just off its 52 week low, and yields 10.9%. Some investors are worried that the Company will cut the dividend but I don't see it. Even if I'm wrong, the downside is limited. HRP has a roster of quality buildings and customers, investment grade debt levels and a long operating history.
Wednesday, December 26, 2007
Thursday, December 20, 2007
BPP & PFD
New purchases in the following
Black Rock Preferred Oppportunities Trust 12/12 at $17.17 Dividend now at 8.8%
Flaherty & Crumrine Preferred Income Fund 12/12 at $11.73 Dividend now at 8.9%
Black Rock Preferred Oppportunities Trust 12/12 at $17.17 Dividend now at 8.8%
Flaherty & Crumrine Preferred Income Fund 12/12 at $11.73 Dividend now at 8.9%
New Financials Purchases
New purchases were made for the following three finanacial stocks.
Citigroup (C) 12/20 at $29.76
Wells Fargo (WFC) 12/19 at $30.26
Washington Mutual (WM) 12/19 at $15.15
Looking for a short term trade on these, 3 to 6 months unless they get a good pop before.
Citigroup (C) 12/20 at $29.76
Wells Fargo (WFC) 12/19 at $30.26
Washington Mutual (WM) 12/19 at $15.15
Looking for a short term trade on these, 3 to 6 months unless they get a good pop before.
Thursday, December 6, 2007
BLACKROCK ENHANCED DIVIDEND ACHIEVERS
Today I purchased more shares of BlackRock Enhanced Dividend Achievers (BDJ) at $11.80 per share. The BlackRock Enhanced Dividend Achievers Trust, BDJ, is a closed-end equity fund. It currently yields a 10.48 percent dividend at today's price. It also trades at a 12 percent discount to it's underlying stock holdings. The high yields are enabled by writing call options.
A call option on a stock gives the buyer the right to buy 100 shares of a stock at a pre-determined price (strike price), for a pre-determined period of time (expiration date). The fund only writes covered calls, which means they own the stock and are selling the option to someone else to buy the stock for a premium. In a covered call strategy, the risk of loss on the option is zero. If the stock increases above the strike price of the call, the investor simply delivers the shares of the stock to the call buyer. The investor gives up some upside on the stock position in return for risk-free option income. The nice part of this strategy is if the stock goes down or stays the same within the expiration date the seller of the call keeps the premium and can write another call, thus the extra income.
BDJ's top ten holdings are Chevron, AT&T, GE, Bank of America, and Pfizer.
A call option on a stock gives the buyer the right to buy 100 shares of a stock at a pre-determined price (strike price), for a pre-determined period of time (expiration date). The fund only writes covered calls, which means they own the stock and are selling the option to someone else to buy the stock for a premium. In a covered call strategy, the risk of loss on the option is zero. If the stock increases above the strike price of the call, the investor simply delivers the shares of the stock to the call buyer. The investor gives up some upside on the stock position in return for risk-free option income. The nice part of this strategy is if the stock goes down or stays the same within the expiration date the seller of the call keeps the premium and can write another call, thus the extra income.
BDJ's top ten holdings are Chevron, AT&T, GE, Bank of America, and Pfizer.
Sunday, December 2, 2007
NOVEMBER TRADES
Trades made in November
Sold American Century Global Gold (BGEIX) at $23.32 for a 23 percent profit held 8 months
Sold IXC at $142.27 for a 2.3 percent profit held 4 months
Sold IOO at $81.16 for a 3.2 percent loss held 4 months
Sold IYW at $61.49 for a break even no loss or profit
Sold Walmart (WMT) for a 1.2 percent loss held 2 weeks
Bought Citigroup at $31.87 sold for $34.42 for a 7.2 percent profit held 1 week
Bought Citigroup at $31.55 sold at $33.29 for a 4.8 percent profit held 10 days
Bought Citigroup at $31.38 sold at $33.26 for a 5.3 percent profit held 9 days
Sold American Century Global Gold (BGEIX) at $23.32 for a 23 percent profit held 8 months
Sold IXC at $142.27 for a 2.3 percent profit held 4 months
Sold IOO at $81.16 for a 3.2 percent loss held 4 months
Sold IYW at $61.49 for a break even no loss or profit
Sold Walmart (WMT) for a 1.2 percent loss held 2 weeks
Bought Citigroup at $31.87 sold for $34.42 for a 7.2 percent profit held 1 week
Bought Citigroup at $31.55 sold at $33.29 for a 4.8 percent profit held 10 days
Bought Citigroup at $31.38 sold at $33.26 for a 5.3 percent profit held 9 days
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