JER REIT May Face Delisting

JER Investors Trust Inc., a real estate investment trust headquartered in McLean, Va., has received written notice from the New York Stock Exchange that it is not in compliance with continued listing standards. However, the firm added it already has taken action that should put it back in good standing. Under NYSE rules, JRT common stock is required to maintain a minimum average closing price of $1.00 per share over a consecutive 30 trading day period. Once it receives the notice, JRT has 10 business days to notify the NYSE on how it plans to cure the problem; otherwise the common stock would be subject to suspension or delisting. On Feb. 23, 2009, JRT notified the NYSE that it intended to cure the price deficiency by effecting a 1-for-10 reverse stock split, which was announced in a press release dated Feb. 13, 2009 and became effective on Feb. 20, 2009. The per share price of JRT common stock at market close on Feb. 23, 2009 was $2.68. The determination as to JRT's restored compliance with the continued listing standards will be made by the NYSE.