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Walter Investment Management Corp. Message Board

  • Paxmaker Paxmaker Jul 24, 2010 3:35 PM Flag

    How Many Splits has Walter Had?

    Looking at the chart, I see a notation for split(s)and also see that, retroactively the price per share goes up to around $600/share. Anyone have access to company history on that point?

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    • 0 splits !

      • 1 Reply to isailaway1
      • the company was merged with hanover capital management, which was an reit which serviced and helped companies manage prime mortgages with their special software. It was once in the teens and had a great div about 7 to 9 %. I don't know wether the price history reflects the two merged companies pasts. I do know it will take years to recoup...... check history of hanover.....

    • Here's what happened. In 2009 (March I believe,) a company called Walter Industries spun off it's mortgage division and rather than incurring the cost of an IPO, they purchased a bankrupt REIT that I believe was called Hanover Investment. Any way, Walter Industries sent a ton of money and assets to the new entity that we know as Walter Investment Management (WAC.) So any history of the stock prior to March of 2009 is of no value -- this is essentially a new company, and Walter Industries is now Walter Energy, a pure play coal producer.

    • It appears that there was a reverse split 8/23/09.
      Prior to that, WAC was a penny stock selling for $.14 per share. After the reverse, it sold for $7.50 per share(a nice premium). You will also note that the volume for WAC went from a few hundred shares up into the many thousands. There may also have been some secondary public offerings to raise capital at the new share price (I haven't checked). You can back check share price and splits right here on the Yahoo site. The secondary offering might be on the company website. Bob

2.79-0.09(-3.13%)Jun 28 4:02 PMEDT