Reserves were the cause of the loss. Don't know how this portends to all-important dividends, but isn't FFO (funds from operations) the benchmark for distributions?Help me out here. AHR is very cash flow positive this year.
Net cash provided by (used in) operating activities 46,637From Q1 report
From SEC filing:"Net cash provided by (used in) operating activities49,344"It's called reading. Left to right, top to bottom. Put words together to form sentences...
That's what I see too.But there is also the $80M UNREALIZED loss on liability derivatives.
419M in accumulated deficit.I still could see a de-reit move, which would, when coupled with a BLK buyout, provide a $160M tax-benefit. BLK has earnings and pays taxes.$160M = approx. $2 per share."Worth more dead than alive" translates to "worth more to BLK than the market price".Sure, they'd have to pay $3-4, but net of the tax-break that's $1 or $2 (only).Roughly $50M/qtr. cash flowing in (.60 cents / share).Earnings weren't great, but the cash flow is strong and with this, and rebound in the past 2 weeks in CMBS, things are positive. I hope they have some good plans.Q2 is history - now?!