By issuing new debt.
Irt must have some plans to buy more property and/or issue more shares in the coming months.
While not the optimal way of eliminating the TSRE debt, it takes away all short term clouds.
I wonder what a smallish company like Irt can acquire. Who knew TSRE existed. Perfect size morsel. Are there other sub $billion multi families that fit the mold of what Irt is doing?
Reading is my strong suit.
Second only to posting factually and.....
Being a hot shot. You should see me in my red Lamborghini and my sun glasses.
Irt filed a new presentation with the sec. The filing was done in preparation for the REIT conference where Scott and Ferel will present tomorrow.
I listen to or read the conference calls for Irt, so I was already up to date. The only thing I think I learned was that the company has followed through and reduced the $120 million bridge loan used to buy TSRE down to about $30 million as planned.
1. Any shorts could be covering since there is no clouds over IRT. I don't think the short was big.
2. Those that had reservations about owning, now realize that IRT is a buy relative to other apartment companies.
3. Small company, so any bit of buying makes a big difference.
4. Investment bankers buying in order to pop up the price before doing another share offering. Getting it to an acceptable price😀
Based on IRT's numbers relative to competitors, I think that it should trade based on a 7% to 8% dividend payout, which would imply a $10 to $11 stock. I know that sounds a bit like a DF prediction (sorry), but it seems somewhat appropriate, even if it is a stretch.
The original loan (I believe was $120 million) so they came quite some distance. They sold about 4 properties and refinanced a couple of TSRE properties.
A couple of correlaries to your very valid question would be:
1. Why did the bank choose to lend $7 million MORE.
2. Why did the bank lower the interest rate?
The exit is economic suicide and yet, the populous was so mad that they just wanted to express unhappiness. The Donald is appealing to people here that are unhappy too.
So, how can we express our displeasure with Ras, without committing suicide?
First, what are you doing here. You said you would leave under multiple IDs over a long period of time.
Oh well, welcome back!
You don't recommend buy or sell.............always dangerous............with the exception of RAS.