GKK ex-dividend on 12/27 (10%, special)
Gramercy Capital, a commercial mortgage REIT, will pay a special dividend of $2.630 on Jan 15th to holders as of Thursday, December 27. That’s 10.3% of the share price of $25.500. The special dividend was pre-anounced following the sale of Gramercy�s 45% interest in a Manhattan property. It also includes a 63c regular dividend.
December 13th, 2007 at 3:59 pm
Do you realize the gigantic short position out there on this stock?
December 15th, 2007 at 6:49 pm
What does that mean? They (the shorts) are trying to make money off it when it’s a decent stock?
December 18th, 2007 at 10:07 pm
Surprising so soon after good FFO. There may be some news out there….
December 21st, 2007 at 4:10 pm
looks like the shorts got squeezed today in the triple witch. Big move up at the open, and GKK was able to close with an over 4% move to the good. The unforeseen development was a cash infusion to Morgan Stanley. The financials have been beaten down so bad ( especially mortgage companies and reits )that you knew something good would have to happen. Also think we will be getting at least another 1/4 point cut to the discount rate soon which is also bullish for financials..