They should either sell off their entire loan portfolio, or the entire Company and pay a liquidating dividend, or they should do an aggressive share buyback. They have very little debt relative to other small financial companies so it shouldn't put them at risk. Personally, I'd like to see a massive share buyback (we're currently trading at more than a 50% discount to book value) and let them wait for better times to sell the Company. I wouldn't mind if they cut the dividend to a few pennies and use their profits to buy back shares instead. It may give some investors a tax advantage since the dividends are not-qualified. I don't know the tax laws on maintaining REIT status, but I have a few other REITS that have cut out the entire dividends and gone up in value (i.e. CDR). Remember, PCC has no preferred shares to which they're obligated to pay dividends. Also, one of the founding brothers sold out his entire stake last year.