Why does the chart for mhx on the yahoo site list the dividend yield as 4.45%. If I'm not mistaken the dividend has been incorrectly listed for some time now. Can we (I) contact someone in charge of the site to address this mistake.
Yahoo is showing a dividend of $0.82 which is the sum of the first two dividends from Meristar. They apparently are going by dividends actually paid over a year rather than annualizing the most recent quarterly dividend. It's probably an automated process which doesn't deal well with special situations. Yahoo may be getting the information from a data provider who would have to make a change in the number to produce a more accurate yield.
I've emailed Yahoo twice about the misreported dividend and yield for MHX. The first time was 6 or 7 weeks ago, the second time was just last week. After the first email, they responded and said the problem was with their data provider, Reuters, and that they would notify Reuters. I haven't received a response to my second email.
I have checked a few other internet quote sites and found the dividend reported correctly, so it seems to be just Yahoo with this problem. Has anyone seen the dividend reported incorrectly elsewhere?
I definitely believe that if this dividend is being widely misreported that it could be having an adverse affect on performace. People looking for stocks meeting certain criteria such as a minimum yield will overlook this stock. However if the problem is unique to Yahoo then I wouldn't buy too much into this theory. It takes a lot more than Yahoo misreporting the yield to explain the crappy performance of this stock. Of course, I find the yield immensely attractive and I plan to buy some more when I get some cash together in a few weeks.
Suffice it to say both of these issues have done terribly since their public debut. This thing has been a mess since they announced the plan to merge AGT and Capstone.
I appreciate that since last Summer reits have been hit hard and that HOTel reits were hit the worse. Long term I think that both companies will be okay but right now both are out of favor.
If mgt. reads this board here is an idea for you.
On October 5, l998 MMH announced that it would utilize the services of Visual Data's (VDAT) HotelVideo service. This service utilizes the internet to show hotel properties.
If you look at VDAT it is a losing company with a stock trading around $6.50. Before that announcement its shares were trading under $2. Obviously VDAT's connection to the internet got the stock a lot of attention and the appreciation in price.
MMH is a prime candidate to get involved in the internet. The company should acquire or start up a web-site that involves selling time shares, booking hotel reservations etc. etc. with refernce to the properties that the company operates.
Based on the recent performances of companies with internet stories MMH won't be trading in the $2 range for long. The publicity will generate a tremendous amount of exposure and publicity for the company and get things moving in the right direction.
I am not suggesting a phony hype or anything like that. What I am suggesting is another possible revenue stream that is currently in vogue.