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CommonWealth Reit Message Board

  • RICHANDMEG RICHANDMEG Feb 23, 2012 1:48 PM Flag

    Conference Call

    No cut in dividend being discussed. 4th Quarter numbers reflect "transitional" change to a CBD REIT.

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    • Yep. That said I dont really like the managers but the upside here is incredible. Its a cREIT with a mREIT dividend that is not influenced by interest rate spreads. Long after mREIT drop to 5% this one will still be paying 10% at current prices and that will likely grow significantly if they can improve occupancy from the current 85% level.

    • I believe at under 18, CWH with an 11% yield is dirt cheap. When I see something in the store on sale I buy it. I have now accumulated a huge position in CWE and I am not worried about the safety of its dividend. I can hardly wait for next fat dividend check. If the price stays down and I hope it does, I can buy still more CWH at this nice cheap price. The conspiracy rumors are very productive. For a buyer like me who loves a bargain, there cannot be enough of them.

    • I don't have any secrecy, i can post my current portfolio but the problem is it wont show all my closed positions. For that I would need to post all my trades the past 4 years which is a bit too much work. Otherwise I run a public company and we have site with our performance but I would rather people not know my real name.

      Here is my current portfolio which changes very often so dont take it too heart.

      AHT-D
      AGNC
      BBEP
      BWP
      CBL-C
      CBL-D
      CDR-A
      GOV
      CSA-A
      CWH
      FR-J
      GRT-F
      GRT-G
      IVR
      DPS
      PEP
      KRG-A
      LXP-D
      MFA-A
      NMM
      MPW
      NEV
      NLY
      NRF-A
      NRF-B
      NZF
      RSO
      SFI-D
      SFI-E
      SFI-G
      STD
      SLM-A
      CAKE

      The big positions are CAKE & DPS. The preferred shares are about 50% of the portfolio. The rest are minor but I got them real cheap so no point in selling. Income is about $600k per year from stock divs and distros. What is not shown is my properties and cash withdrawn which amount to about $400k. Stocks are sitting in an LLC. All this started with $50k at the end of 2008.

    • Fritz-

      Thanks for explaining to me that it is no fun to be DUMB.

      Sorry I cant empathize with you because I dont know what you are feeling. Havent experienced it.

      Current score-lxp=8.78. cwh=$4.77. Apples to apples.

      I think that pretty much clarifies the abysmall quality of your posts.

      Good luck. Keep hope alive.

    • I read the Q&A more carefully and listed to the Q&A, and I must say that it was aggressive questioning top to bottom. I wish there were more of this in general, with all companies, not just CWH.

      There was a persistent question on allocation of expenses between capital expense maintenance (depreciated over several years) and routine maintenance (expense in year incurred). (Assigning expenses as capital expenses makes reported earnings higher this year.) The question was why so much was considered capital expense, and so little routine maintenance. There was a fair amount of stuttering by the CWH guys in response to this question, and then they remonstrated that they did not play games with the accounting. But they did not really explain why the ratio between the two was so lob-sided ($18M vs. $.5M)

      There were tough questions on why they were setting up a new REIT rather than just selling properties. They said that because CWH was not getting such good financial results it was hard to sell properties. But somehow putting them in another RMR run REIT supposedly would unlock the value to CWH. One question, after the CWH guy had talked about what "we" planned to do as far as shuffling/selling properties, was whether the "we" meant RMR or CWH.

      I think the best way to unlock the value of CWH assets would be to get rid of RMR, but I do not suppose that is something the Board is going to do.

    • tacoboy,

      Goofy knows how to read,idiots don't,page 23 states SAME as in properties held for at least one year.
      Since you are clearly not capable of reading a financial report,you are now in the runamok,blueliver and toomuchgas category and thats not a good one to be in.
      The rest of your post is more rubbish that doesn't deserve a reply.
      Don't you feel dumb after being proven wrong every time you post,most quasi normal people would give up

    • page 5 should be page 6.

    • Goofy-

      1) Page 23 of the supplement reports 37 cbd bldgs.

      2) Page 5 of the supplement states "cwh is looking for a balance between "security and grotwh". The security part includes triple net leased bldgs and the growth part includes our multitenanted office properties".

      Amazingly enuf it doesnt mention multitenanted cbd bldgs as part of their core strategy.

      Further, the triple net leased bldgs are to be spun off to SIR.

      So what exactly is their strategy??????

      You live in a make believe world. Wake up.

      Nice to hear from you.

    • Transitional = Looting
      If it really was transitionally good for CWH, Portnoy&Company would be taking $1 per year, like Meg Whitman at HP. You do understand Portnoy and Company took $37 million in fees right? And they will be the largest shareholder in the new company they formed with your shareholder properites. You will get NONE of those shares formed with your assets, you do get that right?

      • 2 Replies to bluelivermore
      • .. you brought meg into this? seriously? that retarded leech did nothing her whole life. She just rode the Ebay wave which would happened without her and then she left them high and dry after almost destroying their online market edge and letting amazon overtake them in just a few years. When things started getting tough she walked away leaving them a smelly bag of dung. Meg is a horrible CEO (and a worse person) and getting just $1 in salary is meaningless when she take home $16.1m in options. I dont like the pornoys either but they actually made money for their shareholders historically despite your views on CWH. Meg just knows how brown nose into positions and then she destroys companies with her stagnation and lack of vision.

      • What's the matter. Mommy gave you shares and won't let you sell them? You must have some problem with the company. You keep hanging around and telling everyone to get out. Must be some problem somewhere. Loosen up and share.

        Once again. I'm very long. Very much in profit. Quite happy to stay here and take dividends.

        Go ahead. Give me your best blather. I can take it.

    • If the economy was weak I would be concerned about CWH. However, the economy is gaining momentum and leasing realizations will improve. It appears from the reported numbers that 3Q11 was the nadir and now we have the upswing. They need to spend on leasehold improvements as leases roll but that is the nature of the business until space gets tight. Since there has been no building for 4 years, space will get tight. The spin off will give them flexibility on financing. The interest cost is very low as they have done a good job with refi. We may be lucky on the pfds as it is looking like high cost financing and could be redeemed. I am starting a new position as my cost will be $18.60 after the next dividend. To much pessimism on this board is a good sign for entry. I also see dividend is 25% tax free.

      The suburban properities are at the lows as housing is very close to turning very positive. For the first time it is cheaper to buy than rent. In two years, those suburban properties will look a lot better.

      • 2 Replies to rcsam
      • Good Post- the non-real estate financial improvements at CWH are rarely mentioned

        1./ Increased Lines at reduced interest rate
        2./ Redemption of expensive Preferred
        3./ Has developed its own currency in GOV
        4./ Will develop a second currency in Select Income REIT
        5./ Paying down debt with the SAR that is sold

        These things, while getting little notice, can be as important as the real estate assets

      • Koolaid for same my friends, CWH has storytime that never ends.
        How about this Portny&Company takes $1 a year until CWH is turned around. Like Meg Whitman at HP. Instead of $37 Million, and looting the assets off into another company, that they will be the major stockholder in.
        If CWH is in such great shape fix it Portnoy&Company. Don't loot the assets.
        You do get that right?
        You do understand that the forclosure ban is over, as such a close listener and citer of news, that ended 2/1/12.
        Failure to tade out if you are in at 18.61 is a huge mistake.
        Yikes Koolaid drinker.

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