I have owned SWZ since 2006, so almost 10 years coming up. I am actually $2 underwater on my original shares, but because I reinvested ALL of the dividends and capital gains (the default position if you own this fund), I now have close to 5000 shares on my original 1600 share purchase. The problem with Yahoo "Historic Prices" for dividends is that they do NOT show capital gains. For example our "dividend" this July was .001 cents, but the capital gain was about .26 cents. The .26 doesn't show up on Yahoo, so one has to do more research on the SWZ website.
If there is a poster-boy for Buy and Hold, it is SWZ - let's hear it for compound interest!!
The way I see this is that SNH and the other RIET's buying a 48% share in the new PUBLIC RMR will get potential growth in RMR after the IPO. If RMR continues to grow and manage other properties, they could even start a dividend. RMR will get funds from the IPO to grow.
Here is the takeaway from my perspective. Let's say I own 10 apartment buildings and pay a management company 10% a month to manage the properties. That is 10% gone. If I own a piece of the management company, then I can share in their profits, and get some of my 10% management fees back in stock growth or dividends. I can't see much of a downside here.
This is the golden age for dividend and individual investors who don't panic when a stock price goes down for silly reasons or computer trading. I bought a huge number of dividend stocks in 2009 and kept the ones I already had - needless to say it was a good idea. The Fed can't raise interest rates very much or they will crash the economy, so I would not worry about high interest rate loans for SNH.
don't sign up for any of these class actions - I have been in the market since 1976, and have never received a penny from nuisance litigation - they are basically shake-down artists that represent themselves.