The stock price tends to bounce any time a document wiggles at the court, so a good judgement should easily bounce to $8 to $10. The risk after that is that RVP might want to try running the business with the winnings. I think $12ish of they just liquidate after collecting. The current price is quite low IMO. It is pricing in maybe a 30% chance of collecting.
I agree that it is worth more if they cut the dividend. They are not getting any respect for the very high dividend they are paying currently, so they might as well go for increased coverage to hopefully reduce the perceived risk. That should also help reduced borrowing costs. I also wouldn't be surprised to see a management led buyout at this level, as Davis mentioned earlier.
My main question is how lumpy that revenue is. Nothing in the report really discusses this. Will have to see what the outlook is in the CC.
RAS continues to dump for 2 primary reasons imo:
1.) No public explanation for the secondary. A simple PR could have been issued if they had anything good to say.
2.) Write off on the Houston property. How many more of those are there lurking around?
I tried. No shares available.
I'm not sure why shorting TDOC has been bad for shorts. And I'm afraid I don't see any way this gets to $34 unless they come up with a plan to make money. Competition is coming out from everywhere. And at lower prices. MDLive, Via Well, Healthiest You. I think this is a short.
In my experience, when a company starts saying things that don't make any sense, there are usually a lot more surprises coming down the pipeline.
It does sound like they have been minimizing their exposure to interest rate risk by selling fixed and keeping variable loans.
They say they won't sell common shares at these prices, but they didn't hesitate to sell a little higher than this. And not a word out of them in the CC about that last sale.
We continue to believe that IRT shares are extremely undervalued trading today at approximately a 24% discount to our NAV.
Now that the acquisition is closed, we've turned our attention to reducing IRT's leverage ratio primarily through prudent property sales. Within the next nine months we except to fully retire $120 million interim loan which we used to fund the Trade Street acquisition.
...the combined company's G&A savings is $5 million.
Our same store revenue was up 5.2% year-over-year and expenses increased 8.8% over the same time period producing NOI growth of 2%. The increased in expenses is directly attributed to the anticipated and underwritten real estate tax reassessment of our Oklahoma City portfolio. And higher payroll costs as we have fully staffed the majority of the same store portfolio as for the completion of evaluating, transitioning and training of the on-site employees. (Not sure what that means, probably a transcript problem). During Q3 of 2014, there were approximately $100,000 of some one-time operating expense reductions that did not repeat in the third quarter of 2015. Without these one-time savings in Q3 last year, same store NOI would have increased 4% for the three months period ended September 30, 2015.
Additionally, as part of the Trade Street transaction, IRT amended its advisor agreement and changed the structure of its base management [indiscernible] fees in order to align them better with the market. Ultimately the new advisor agreement fee structure would reduce the asset managed fee payable to IRT's external advisor when compared to the previous fee structure.
...we are expecting core FFO of approximately $0.21 to $0.22 per share in the fourth quarter. It includes the effect of the property sales, but it doesn't include any cash being generated from the property sales.
She isn't talking to get elected. I'm sure that she and her buddies had the sector well shorted.
It really depends on the rep. The reps have a lot of flexibility to get the rates down. My brother is a rep and he just isn't comfortable charging very much. I think he is selling Clover's for $750 which is way lower than anything else out there.