They own 24 buildings and a parking garage in NYC...what non core assets? The portfolio is as high end as you get and CEO Michael Happel is a smart guy. The REIT has stuck with the program but has been beaten to shreds by affiliation and past transgressions with RC Securities. Its a tough and disapointing situation thus far. A buy back is unlikely because at some point next year they will probably plan on buying their sister non traded REIT - NY2 which they have been building and just closed. I had higher hopes for this one
They need to internalize operations which it doesn't sound like they have any imminent .....Externally managed REIT's always seem to underperform. I agree with you about being comfortable with the real estate...The share price is telling of the carnage Schorsch has left behind and it doesn't seem to be subsiding anytime soon.
so the reasons to own GSK poss HIV spinoff and fat bonus dividend....they basically canceld both. This shows me there may not be any new cards in the mix and/or management has no clear direction to turn this pig around. I am deeply disappointed
Im cautiously optimistic but do have a bit of fear that there is a small chance that CBI has an issue.The market is telling us that people are betting well under the price of shares today...and what institution dumped today at the open?
that debt was caused by an awful decision by management to buy back stock at $82 per share. So instead of using the cash to invest in infrastructure that could of helped the business model stay current they are now struggling to pay off an investment that they are down 90% on with decreasing revenue.