Nothing will change CWH's fortunes by a change of control,they are unloading the dogs in their portfolio and it will take time not new management to improve the situation.
Don't care who manages the company its fairly priced and most likely overpriced at these levels. My guess is Corvex wins and says my what a mistake we made.
Three years from now CWH will be a good company,whomever owns it
Unloading the dogs? Middle of 2013 they put all their dogs under the CWH umbrella to make their other portfolios look stronger, if they unload the dogs there would be nothing left. That's not good management at all.
Fritzie-After years of defending the cwh assets it turns out cwh is dumping several hundred dogs that it had in its portfolio ad infinitum. The big upside potential results from eliminating the .5% asset bonus rmr received each year IF that is the intention of corvex. My last recollection is that fee alone was $30m/year over and above the normal management fees. You also recite the other large #$%$ large deals including Glaxxo, Motorola and Westinghouse not to mention the outrageous purchase of the 100+ year old renovated bldg at 600 w chicago ave in chicago for $300m plus. Your 20/20 hindsight is right-the cwh portfolio is littered with dogs. Seems like you came to this realization 5 years late.
He's bad mouthing now because his job in Newton Mass is going out the window. He's been hanging on with the Porkies for many years while the going was good.
BTW: I see LXP made a nice run to 13 and then came back a bit. You were pushing at 8 if I remember.
Fritz, why waste your time here posting for your pig boss, Portnoy. Better that you should spend this valuable time hunting for another job. Portnoy and his henchman are going down, lawsuit or no lawsuit. By the way, if lawsuits are going to fly, Corvex may sue them for "breach of their fiduciary duty", as they :knowingly" screwed the investors for their own self-enrichment !.
Fritz, which Portnoy are you? You have never said.
At least you are a little more sophisticated now, trying to make an argument that shareholders who vote for Corvex will see no benefit in share price, so why vote? --Let the Portnoys stay in place.
If Corvex dropped out the price here would quickly drop to $15 or so, repricing to the negative value of RMR management. That is why everyone with CWH shares should vote RMR out.
I disagree. The share price may be appropriate at $23 give or take. But Shareholders can certainly see more cash flow through in the form of dividends.
And I'll gladly give new management a few years to show progress. I've lived with these clowns lining their own pocket at our expense for more than a few years.
Time to kick them out!!!!!!!!!!!!! Send me my form and I'll gladly check the right box!!!!!!!!!!!!!!!!!!
A few years ago, Duke Realty(DRE--not dummies) unloaded huge volumes of office buildings and reinvested in other property types. Why? The commercial office building market sucks. SIR's properties will similarly sour over time. Corvex is untrustworthy and the typical investor, not given to honest analysis, blames CWH for what is a sorry investment environment for office buildings. It boils down who owns the most shares. Don't bet against Portnoy and company...you underestimate them.
Reits suck in general,and the big deal being made about triple nets are going to burn a lot of investors. Part of CWH's problem,besides suburban is triple net dogs. The had 500k sq ft outside of Pitt lease to Westinghouse,three year ago Westinghouse built a new campus and left,its still 2/3rds empty,CWH had another 500k sqft plus campus in Texas leased to Motorola,guess what they left after Goggle bought that part and its been empty. Same goes with Glaxo in Philly,800k sqft empty with no hope of finding a tenant ,there are more.
SIR is a little different because of Hawaii,and they don't have any scary triple net renewals for a few years,starting in 2016 the company will have to be watched closely.
In regards to Portnoy and whether they win or lose,doesn't matter to me,the share price of CWH is at max so I wouldn't invest either way