Thursday, March 19, 2009

SRS...Shares for everyone!

SPG (Simon Property Group) is issuing 15,000,000 more shares to raise cash. This is incredibly dilutive and adds to their quarterly dilution of stock holders (they are paying their 10% dividend mainly in stock). SPG is one of SRS's biggest components. This will make everyone wonder if the other REITS will need to raise cash too.