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CommonWealth Reit Message Board

  • analyst112 analyst112 Feb 23, 2012 11:19 AM Flag


    Some good news; occupancy was up .5% first uptick in awhile. Rental renew rates were not down but flat. The problem is leasehold improvements. Our divvys are well covered at 5.5x for the preferreds and 1.5x for the common. They also have the option of selling GOV. I guess they are waiting for higher prices. The spin off will also give them liquidity. It looks like they hit bottom this quarter. Hanging in there.

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    • Your talking spinoff that will reduce earnings more? How is that a positive?
      Notice how they quit selling properties, which hurt earnings, big. No one wants their properties. It's that fee simple. So they have had to turn to spinning off properties into another dilutive company.
      SHIP OF FOOLS shareholders and thats the way CWH likes it.
      Get out now!!!!!!!!! Warning ship of fools.
      All those areas I pointed out in the 3rd quarter 10Q were worse in the 4th quarter.
      If you think that dividend is safe, what happens when the banks call in even 5% of those loans? for non performance, or violation of the loan covenants, like debt rating.

    • Buyers today will make money and sellers are the frustrated long term holders. Seems like a good day to pick up some shares --ex dividend in 7 weeks so really $.50 less. Blue light special.

      • 1 Reply to rcsam
      • If they can't at least hold the FFO stable with an improving economy there is no reason to hold it. Eventually, the dividend will have to be cut. It you look over the years they have NEVER had a meaningful improvement in FFO year over year and most years there has been a reduction in FFO. Why go for the thrills of the common's price swings. Go with the "D" preferred and sleep better.

    • Good post - I agree - looking to buy some more today.

    • The tendency is to just dump shares. That is almost always a mistake as the market cannot absorb it. I would bet it will be over $20 next week.