SIR has been moving up nicely lately. Maybe some investors are expecting a dividend increase.
While it is good for investors that the RMR discount is being reduced lately, if there is no dividend increase to prop the stock up at these higher levels, RMR may take this opportunity to find a "compelling" reason to increase its assets under management, and torpedo the stock price again.
Such a persistent moron you are infiniti. You go to day before the Corvex intervention was announced to now, and look at total return (change in stock price, dividends received), EQC has delivered better return than the RMR REITS, and this even though Corvex did receive a payout for organizing the intervention, and even though RMR got itself an undeserved payout after being forced out, and even though EQC paid massive attorney fees to impede Corvex's intervention.
The problem with EQC was that RMR was so busy using it as an incubator for other REITs to be managed by RMR that RMR neglected to recycle assets within EQC, and EQC got stuck with a boatload of empty buildings. Portnoy was so blind he said he saw no risk to the dividend less than a year before he cut it in half.
As always you ignore how badly EQC was managed leading up to the Corvex intervention, and you ignore capital appreciation since Corvex announced its intervention because it does not serve your story line.
Fritz, the fact that RMR has rooted themselves so deep into the RMR REITs that it is very very difficult to dislodge them, does not mean that one should not vote, or votes do not matter.
There are hundreds of honest experienced business people who could serve as directors of these REITs and could replace those voted off. And 99% of these honest experienced business people would say first thing upon discussion of their appointment occurring is: "how can we get rid of RMR?" So of course none of this sort if appointed, and the old crew is put back in place rather than the REIT getting new blood.
As for no one putting up another slate of directors, that was hard enough at EQC where there was not staggered elections. And that was before the breach of fiduciary duty giving of a 20 year contract to RMR.
So for now RMR looks unassailable. But nothing permanent can be based on force, deception, mendacity, audacity, and lies. Either RMR will become benign, or it will be forced out one way or another sooner or later.