Afn

[Blindcheck]

AFN (Alessco Financial) is a stock that I have been accumulating as its price has been falling.

They have just announced their quarter last week and hit their quarter...

The price is hovering around 3.60 and the stock price has been hit hard these last 6 months because the real estate sector has been hit so hard, however this company has very little exposure to the sub prime market and the stock price will recover once the sector is in better favor.

Now the best part, the stock has been paying a quarterly dividend of 31 cents...which at this stock price is yield of over 30%....During their conference call, they gave guidance that they expect to pay a similar dividend going forward over the next 5 quarters.

Summary, I am continuing to accumulate this stock and I keep lowering my average price as the stock is going lower....The sector is bringing down all the stocks in the sector and this is one of the better REIT's, so when the sector rebounds, I think the price will soar....if not, I will keep cashing the dividend checks.