Update on TSY REIT
From the article,
"For the fourth quarter, Trustreet turned in $0.34 per share in funds from operations (FFO), marking the first quarter in its short history in which the FFO has fully covered the $0.33 per share in quarterly dividend payments. (The company pays out $0.11 per share monthly.) In truth, Trustreet's profits on the sales of non-core assets and cash received toward the principal on capital leases more than provided the cash needed to fund the dividend in the past two quarters, but it is always preferable to see a dividend covered by FFO.
The most important concern with this company continues to be its high level of total debt and concentration of variable-rate debt. Secondary concerns include the quality of its tenants and how they perform in a more difficult economic environment, plus the soon-to-expire lockup on the company's secondary offering, which was completed in December."