They sold all their real estate holding in a all stock transaction worth an average of 27.20 a share in the company that bought the real estate holdings in a lease back deal where each shareholder of Pinnacle get .85 a share in the company that now hold the real estate holdings which is Gaming and leisure properties.(symbol glpi) So after the transaction was completed they just discount pinnacle's stock from the prior closing price of 38.86. 38.86-27.20= 11.66 give or take a few trading cents per share since.
I have no doubt that someday soon this could well be a billion dollar plus company. Good things comes to those who buy and hold for the long term.
Sentiment: Strong Buy
With what? All my money is all tied up in BBEP Preferreds. Not everybody has all this extra cash just laying around to diversify!
We all know how that works!
or just a simple majority for approval?