Dws Rreef (SRO) 銘柄情報

YOU CAN GET MORE INFO ON CLOSED END FUNDS HERE http://www.etfconnect.com/select/fundpages/other.asp?MFID=117420


NAV is what the value per share the fund is worth

Closeing share price whar you could buy it at last night

Current distrubution rate is the dividend rate

Premium/Discount IF it is a - it is % under the NAV
+ it is the % over the NAV

FUNDS HOLDINGS AS OF

DWS RREEF Real Estate Fund II, Inc.





Shares

Value ($)




Common Stocks 61.3%


Real Estate Investment Trusts (“REITs”) 61.3%


Apartments 7.4%


BRE Properties, Inc.


30,000

588,900

Camden Property Trust

42,697

921,401




1,510,301

Health Care 19.6%


Cogdell Spencer, Inc.


407,632

2,078,923

Medical Properties Trust, Inc.


193,250

705,363

Senior Housing Properties Trust

1,100

15,422

Ventas, Inc.


53,500

1,209,635




4,009,343













Hotels 13.8%


Canyon Ranch Holdings LLC (Units) (a)

864,000

1,814,400

Hospitality Properties Trust

84,200

1,010,400




2,824,800

Industrial 6.6%


DCT Industrial Trust, Inc.


421,350

1,335,680

Office 5.4%


BioMed Realty Trust, Inc.


59,400

402,138

HRPT Properties Trust

219,754

701,015




1,103,153

Shopping Centers 8.5%


Regency Centers Corp.


31,650

840,940

Weingarten Realty Investors

94,200

896,784




1,737,724



Total Common Stocks (Cost $43,058,915)

12,521,001


Preferred Stocks 96.0%


Real Estate Investment Trusts 96.0%


Apartments 18.7%


Associated Estates Realty Corp., 8.7%, Series II

276,250

3,828,825

Diversified 4.8%


NorthStar Realty Finance Corp., 8.25%, Series B

125,100

987,039

Health Care 0.3%


LTC Properties, Inc., 8.0%, Series F

3,000

61,665

Hotels 40.7%


Eagle Hospitality Properties Trust, Inc., 8.25%, Series A

348,200

34,820

FelCor Lodging Trust, Inc., 8.0%, Series C

43,100

172,400

Host Hotels & Resorts, Inc., 8.875%, Series E

150,050

2,888,463

Sunstone Hotel Investors, Inc., 8.0%, Series A

609,450

5,180,325

W2007 Grace Acquisition I, Inc., 9.0%, Series C*

379,800

37,980




8,313,988

Office 6.1%


Digital Realty Trust, Inc., 8.5%, Series A

70,950

1,241,803

Shopping Centers 25.4%


Cedar Shopping Centers, Inc., 8.875%, Series A

236,550

2,057,985

Saul Centers, Inc., 9.0%, Series B

154,750

3,125,949




5,183,934



Total Preferred Stocks (Cost $56,133,888)

19,617,254


Principal

Amount ($)

Value ($)




Time Deposit 10.0%


State Street Euro Dollar, 0.01%, 4/1/2009 (Cost $2,052,376)

2,052,376

2,052,376


Shares

Value ($)




Cash Equivalents 17.1%


Cash Management QP Trust, 0.53% (b)
(Cost $3,500,000)


3,500,000

3,500,000













% of

Net Assets

Value ($)



Total Investment Portfolio (Cost $104,745,179) †
184.4

37,690,631

Other Assets and Liabilities, Net
(15.9)

(3,252,132)

Preferred Stock, at Redemption Value
(68.5)

(14,000,000)



Net Assets Applicable to Common Shareholders
100.0

20,438,499

For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements.

COULD LIQUIDATE

DWS RREEF Real Estate Fund, Inc. (AMEX:SRQ) (“DWS RREEF I”) and DWS RREEF Real Estate Fund II, Inc. (AMEX:SRO) (“DWS RREEF II”) (each, a “Fund,” and together, the “Funds”) announced today that the Board of Directors of each Fund has approved a series of measures designed to protect and enhance stockholder value:

1. In an effort to reduce operating costs, the Board has negotiated a new management fee for each Fund at a fixed rate of 0.55% of average daily managed assets. The new fee, which reflects a significant reduction, will take effect September 1, 2009.


2. In light of substantial stockholder support for the recent liquidation proposals, the Board has indicated its intention to give stockholders another opportunity to vote on the liquidation of the Funds at their annual meetings expected to be held later this year.

TRADES AT 17% DISCOUNT

NEWS ON SRO

Description of Registrant’s Securities to be Registered


On August 14, 2009, the Board of Directors of DWS RREEF Real Estate Fund II, Inc. (the “Fund”) adopted a resolution declaring a dividend of one right (a “Right”) for each outstanding share of the Fund’s common stock, par value $.01 per share (the “Common Shares”). The dividend is payable on August 28, 2009 (the “Record Date”) to stockholders of record on that date. Each Right entitles the registered holder to purchase from the Fund four (4) Common Shares at a price equal to the aggregate par value of such Common Shares (the “Purchase Price”), subject to adjustment. The description and terms of the Rights are set forth in a Rights Agreement dated as of August 18, 2009 (the “Rights Agreement”) between the Fund and The Bank of New York Mellon, as Rights Agent (the “Rights Agent”).


Until the Distribution Date, as defined below, the Rights will be evidenced, with respect to any of the Common Shares outstanding as of the Record Date, by such Common Share with a copy of the Summary of Rights in the form of Exhibit B to the Rights Agreement deemed attached thereto. The “Distribution Date” is the date ten days (or such earlier or later date as the Board of Directors may from time to time fix by resolution adopted prior to the time that the Distribution Date would have otherwise occurred) following the earlier of (i) a public announcement (including by the Acquiring Person's filing of a Schedule 13D or 13G or an amendment thereto) that a person or group of affiliated or associated persons have acquired beneficial ownership of the Triggering Percentage, as defined below, or more of the outstanding Common Shares (an “Acquiring Person”) and (ii) the date on which any person commences a tender or exchange offer which, if consummated, would result in such person becoming an Acquiring Person, provided, however, that if any such tender or exchange offer is cancelled, terminated or withdrawn prior to the Distribution Date without the purchase of any Common Shares pursuant thereto, such offer shall be deemed never to have been made.


The “Triggering Percentage” of the Common Shares means 6% or, if greater, that percentage that is equal to 0.01% more than the highest percentage of the outstanding Common Shares beneficially owned by any person as of the close of business on August 14, 2009.


The Rights Agreement provides that, until the Distribution Date (or earlier redemption or expiration of the Rights), the Rights will be transferred with and only with the Common Shares. Until the Distribution Date (or earlier redemption or expiration of the Rights), new Common Shares issued after the Record Date upon transfer or new issuance of Common Shares will contain a notation incorporating the Rights Agreement by reference. Until the Distribution Date (or earlier redemption or expiration of the Rights), the transfer of any Common Shares outstanding as of the Record Date, even without such notation or a copy of the Summary of Rights substantially in the form of Exhibit B to the Rights Agreement, will also constitute the transfer of the Rights associated with such Common Shares.

As soon as practicable following the Distribution Date, separate certificates evidencing the Rights (“Right Certificates”) substantially in the form of Exhibit A to the Rights Agreement will be mailed to holders of record of the Common Shares as of the close of business on the Distribution Date and such separate Right Certificates alone will evidence the Rights.


The Rights are not exercisable until the Distribution Date. The Rights will expire on December 26, 2009, unless the Rights are earlier redeemed or exchanged by the Fund, in each case, as described below.


The number of outstanding Rights, the exercise price and the number of Common Shares issuable upon exercise of each Right are also subject to adjustment in the event of a split of the Common Shares or a share dividend on the Common Shares payable in Common Shares or subdivisions, consolidations or similar transactions involving the Common Shares. Common Shares purchasable upon exercise of the Rights will not be redeemable.

Thanks for the info look1.

hang ten one of the reason they can't have dividens is the 1940 law on leverage you have to have a 2 to 1 leverage coverage if not you can't pay dividens. Also when they do unleverage their preferrds when ther holdings are so low . You have to sell more because of the lower price to get out of leverage. You can check out market price and NAV price on http://us.csam.com/cef/products/products.asp? Also you probly saw their holding in the news or SEC under NQ With my retirement money I try to not get into anything that has leverage had some trouble with NRO but got out in time when they said they were buying out their preferreds now I guess they are done leveraging.

Website for SRO/SRQ stockholders:

http://www.srqsro.com/siteterms.php

Preemptive Proxy Statement Filed by Susan L. Ciciora Trust Proposes to Terminate Deutsche Asset Management, Inc. and RREEF America, LLC and Board of SRQ and SRO

6/12/2009 11:31:00 AM

BOULDER, Colo., June 12, 2009 /PRNewswire via COMTEX/ -- The Susan L. Ciciora Trust announced today that it has filed a preliminary joint proxy statement with the Securities and Exchange Commission (SEC) regarding two closed-end investment companies, DWS RREEF Real Estate Inc. (SRQ) and DWS RREEF Real Estate Fund II, Inc. (SRO), both managed by Deutsche Asset Management, Inc. and RREEF America, LLC. The preliminary proxy statement has been filed in anticipation of the Funds holding their annual meetings and offers proposals to terminate the advisory contracts between the Funds and Deutsche Asset Management, Inc. and RREEF America, LLC, replace members of the board of directors with nominees of the Trust, and institute various corporate governance measures. As of the date of this press release, the Funds have not filed their proxy statements for the annual meeting.

The Trust also announced that it has launched a new website dedicated solely to providing the Funds' stockholders with up-to-date information regarding the Funds and the anticipated proxy contest.

When asked for comment, Stewart R. Horejsi, a spokesperson for the Trust, said "the website will provide stockholders who are frustrated with the Boards' lack of responsiveness with up-to-date information about the status of the Trust's efforts to replace the Boards and existing management." Mr. Horejsi emphasized that "stockholders spoke loudly in rejecting the Boards' recent proposals to liquidate the Funds and waste all of the tax loss carry-forwards we have so painfully earned. Angry and frustrated stockholders soundly defeated the liquidation proposals with almost 67% of the votes cast voting against liquidation in SRQ, essentially telling the Boards they have no confidence in either the Boards' leadership or Deutsche Asset Management, Inc.'s or RREEF America, LLC's abilities to do anything constructive with the Funds. We have asked that the Boards set a record date for an annual meeting so that we can get down to the business of salvaging the Funds, but so far the Boards seem to be satisfied with delaying the inevitable and leaving Deutsche Asset Management, Inc. and RREEF America, LLC at the helm of two quickly-sinking ships. Despite the appalling performance of these Funds in 2008, as of the end of May, they are still at the very bottom of the barrel for the current year, SRO with a -22.68% year-to-date return on NAV, and SRQ with a -6.14% return on NAV, ranking 639th and 618th, respectively, out of the universe of 640 closed-end funds covered by ETF Connect. It's clear they have not learned from their prior investment and concentration mistakes." Mr. Horejsi also indicated that, as of the date of this press release, the Funds have not been responsive to any of the Trust's proposals, nor have they announced an annual meeting or set a record date or indicated any intention to do so.

Mr. Horejsi pointed out "other disconcerting news" from June 5, 2009, when the Funds announced that they will not declare any distributions to common stockholders in June 2009 because "market conditions have resulted in the Funds not having sufficient income to pay a distribution." The Trust is the largest stockholder of SRQ, owning 16.5% of the outstanding shares, and one of the largest stockholders of SRO, owning 5.1% of the outstanding shares.

The Trust has been an active and vocal investor in the Funds and, on February 5, 2009 and February 25, 2009, sent letters to SRQ and SRO, respectively, and their boards of directors proposing, among other things, termination of the investment advisers (Deutsche Asset Management, Inc. and RREEF America, LLC), a new slate of directors, and better corporate governance standards and other ideas to enhance stockholder value. Copies of the letters are available on the Trust's website at or, since they have been filed with the SEC, can be viewed on its website at . SOURCE The Susan L. Ciciora Trust
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