Cousins Properties, an REIT, lowered their dividend a bunch. People generally invest in REIT for the dividend, so some fixed income folks and funds will see their fixed income deflated. They go a little bit further and extend their share buyback program dates without increasing the buyback amount. That adds up to some need to conserve cash and less confidence in a quick economic snapback.
That seems prudent to me, the economy is unlikely to perform a sharp pullback to the crazy times we had for most of this decade even with all the irresponsible stimuli, bad loands to bad companies, and bailouts to be thrown at it.
Related:
Fixed Income, Difficult to Come In?
Give Me Dividend or Give Me Death: Liberty Property Trust Cuts Dividend
Property, not the Place to Be: AMB Property Hit
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment