[放炮] NRF spinoff

Trinity

NRF will have a spinoff NSAM (NRF to NRF and NSAM) and reverse split on June 30, 2014.

6/27/2014 (today) it begins to trade with three different ticker symbol:

NRF:  trade pre reverse split with NSAM attached;

NRF WI: trade on a post reverse split basis without NSAM attached

NSAM WI: also trade post reverse split.

It might be a good chance to overweight NSAM... YMYD

Trinity

short NRF WI and long NSAM WI

Trinity

回复 3# aimei

NSAM should have potential on the upside. In last Q, it was mentioned that they will buy back NSAM share if it traded lower.

If the thing works out, NSAM should trade higher PE than post spinoff NRF.

Trinity

回复 3# aimei

By the way, NRF dividend increased penny or more per Q for 10 Qs.

Trinity

(NRF WI + NSAM WI)/2 should equal to NRF. It seems that (NRF WI +NSAM WI)/2 > NRF now. Not sure why?

Trinity

chaos after the spin-off.
Fidelity still has not adjusted my old NRF.

Trinity

NSAM is up and NRF is down after spin-off.

It might be good to buy NRF if it goes down further as the next dividend payment would be doubled to the current Q (NRF needs to distribute >90% CAD).

YMYD

Trinity

回复 10# aimei

It is chaos today. In my IB account, NSAM WI was switched to NSAM and NRF WI was switched to NRF at the beginning of the day. however, my old NRF (pre-spin-off) was not adjusted until later today (NRF was labelled as NRF.old). The streaming is also having problems. It was even worst in my fidelity account. Hopefully, everything will be straight out tomorrow.

By the way, take a look "AAMC" which was also a spin-off a while ago.....

Trinity

IRT is also a spin-off in August 2013 from RAS and currently pay divident monthly.

Trinity

Within month, NRF should declare the next quarter dividend which will be doubled the amount of payment from last quarter. My wishful thinking, it would push the stock price up further.
YMYD

Trinity

回复 12# Trinity

IRT gap up.   Closed my position and wait for the next entry (hopefully IRT would increase divident next month).

Trinity

The ex-dividend date for RAS is July 9 ($0.18) and the dividend increased about 1 cent per Q for 7 in a roll.
Hopefully, Russell rebalancing as well as removing non-REIT NSAM from REIT funds and ETFs is over now. Not sure when the next NRF common issuance will be. If it happens, it might push NRF down further but it should be good for NSAM.

YMYD

Trinity

NSAM looks good and it breaks the previous high! RAS and NRF is not bad considering the overall market!

Trinity

I adjusted and hold equal weight for NRF and NSAM now. NorthStar Said in Talks for Griffin-American Healthcare but not sure whether they could reach an agreeement or not.
Either way, NRF would like to partially fund by issuring new common shares in near future to expand... It will benefit NSAM as it collects fee from NRF while NRF might be pushed down by the market. Eventually it will also good for NRF as CAD will be further increased if the low interest rate environment last longer.

YMYD

Trinity

回复 19# aimei

Please do not call me "老大". I am learning from you.

I was sick abot the whipsaw action on NRF and NSAM recently and decided to sit tightly with equal weight on both of them. Hopefully NRF will push above 17 soon.
The best is to push both up at the same time as I also hold a small position of Sept call (prior spin-off with basket of two).