[Opening Position in JER Investors Trust, Inc. (JRT)]
Dear Member:
JER Investors Trust, Inc. (JRT) is a REIT (real estate investment trust)that has no single family based mortgages or residential backed mortgages though their portfolio does include a single mezzanine real estate loan collateralized by an apartment building in Florida that has been converted to for sale condos. The REIT has been paying a very hefty dividend of about 19.25% based upon its current price.
JRT trades nearly 500,00 shares a day and has a fairly strong support just below $9. I am placing an order to buy shares at a limit of $9.30 for the day.
It looks as though it is about time for the company to announce another dividend, but I have seen no announcement yet.
DISCLOSURE: At the time of publication, I own no shares of JRT.
Sincerely,
Bill Kraft
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