Current stockholders should ask themselves whether they would be willing to buy every share of common at the current market price. Anyone who would be willing to make the purchase should tell us why they want to buy under-water real estate which is losing money every quarter before depreciation expense. Aren't there better places to put money?
I've been watching this company for at least two years, marveling at the fact that it seems to be the most overvalued eREIT in the market.
This stock is easy for manipulation because of the small daily trading volume. Only 600,000 shares transacted and the stock has plunged some 7%. I think no cause for worry unless we see a big selldown.