Alesco Financial: Gem in the Garbage Pile - Roger C. Wren

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Alesco Financial: Gem in the Garbage Pile
Apr 16, 2008 08:17 PM UTC

Roger C. Wren

Return	Risk
-76.84%	MID

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Symbol	Sentiment	Start	Return	Closed
AFN		04/16/08	-76.84%	--

Via Long Investment Ideas from Seeking Alpha:

Alesco Financial (AFN) reports earnings on May 6. As a REIT it has gotten no respect from Mister Market for quite awhile despite very good performance. Basically it is a case of a story that sounds too good to be true, but in my opinion is in fact true.

Management has guided for a dividend this year of 25 to 30 cents a quarter. There is no reason to think they will not make it. A 25 cent dividend for Q1 has already been paid. At yesterday's price of 2.76 a share, 25 cents a quarter would be 36 percent for the year. Most investors look at a dividend like this and see a company in trouble.

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