More market manipulation...I have a large position, about 17K shares. I'm not sure how bad the stock will get pummeled today. This happened some time back, where the sold more shares into the market. The setting is a bit different, as the nervousness regarding MREITS is not as high, of late.
Expecting the worse, hoping for the best. Allot will depend on the tone of the market.
That's the problem holding large positions in reits, that you can and will get nailed with spo's. My play is buying the spo's and selling before ex date. So most of time I may hold the stock for a month or less. Cut's the risk of having the over bought market taking a 10-15% dive and pulling the reit's with it.
Zacks has been pounding on this for months. The last earnings report defies their naysayings. Between the earnings, the SPO, and Zacks, I would say Zacks is the least important, the SPO being the key driver for today, but that should end shortly and a make for a full expectation of price recovery.
If the SO was priced at say 6.85, it could be sold out today. the buyers are buying a 14 percent dividend at the current 0.96. If the capital raised is payout it would accrete rather than dilute.and the SP should rise approaching the BV.