Thursday, May 10, 2007

UPDATE 2-NovaStar posts operating loss, to drop REIT status

(Reuters) - The Kansas City, Missouri-based company also plans to drop its tax-friendly real estate investment trust status on Jan. 1, 2008, after concluding it may generate no taxable income from 2007 through 2011.

NovaStar shares nevertheless rose 5.8 percent in after- hours electronic trading.


Read more at Reuters.com Bonds News

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