If you are an Individual Investor you should call or email IR right now.
Under fire from hedge funds, office and industrial commerical property owner CommonWealth REIT is standing its ground. The real estate investment trust said Wednesday it will push forward with a major equity offering, over cries of resistance from investors that control nearly 18% of its shares.
The controversy started when CommonWealth announced its plan to sell 31.5 million shares and use the expected $450 million in proceeds to pay down debt.
FortApigs have no shame. They are doing the equity offering only because it increases their management fees. Just as flipping properties did.
No rational investor would issue equity at 50% of book to pay off 6% borrowing. This is so blatant it really is completely shocking. Only exceeded by going ahead with it and refusing to answer questions about it.
WOW. Some one needs to learn how to make an honest buck rather than stealing from individual investors.
You must understand somethig, they do not care about debt, they want the 500 Meg to get more assets under mangement, to increase Fees. They have sold a few smaller offices, and do not want to see the fees drop.
"sell the stock " -- Ii did ! - anything to get away from the "Ruskies" manipulation - churning - of the stock - when the "class action suit" hits - I can't wait to fill out, the form - if I had my way - -
those SOB's would be deported - to Siberia ! or Leavenworth - Maddoff guys with a SEC
license to steal..