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Healthcare Realty Trust Incorporated Message Board

  • winmore_98 winmore_98 Jul 23, 2003 2:44 PM Flag


    Poor valueguy, selling HR and buying ETT.

    "FAIRPORT, N.Y., July 16 /PRNewswire/On July 16, 2003, Charles W. Ruff of Insight Investments, LP sent the following letter to Michael Walker, Chairman of ElderTrust (NYSE: ETT - News). The entire letter:
    Dear Mike: I am concerned with the July 14th news of ElderTrust's letter of intent with Genesis Health Ventures (Nasdaq: GHVI - News). After studying the SEC form 8-K, I am perplexed as to the rationale behind these proposed transactions. If this plan is implemented, the company will be shedding nearly half its assets. This will result in tremendous dilution to FFO, even allowing for reinvestment of the proceeds..."
    I looked at ETT and laughed. 2.44 debt/equity, average daily volume 10K shares, last Q rev 8.1M with 3.6M interest expense. And that's supposed to be a value?
    I'll stay with HR. It's still a good long term buy.

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