With a breakeven quarter, one would think the SP would go higher. Portnoy said he wanted to grow the share price thru improved earnings in response to the buy-out offer. Correct me if I am wrong.
Is this a Buy the Rumor-Sell the News situation? What happens after Earning Report, will they show a profit?
Five Star intends to use the proceeds it receives from the sale and leaseback transaction to repay in full amounts outstanding under its secured revolving credit facility which had $60 million outstanding on June 28, 2016, and for general business purposes. Some of the communities sold to SNH previously served as collateral for the Company’s $150 million credit facility and availability under that facility was reduced according to the formula in that facility. After the sale of the seven communities, Five Star continues to own 26 senior living communities (2,666 living units), including 10 communities which are unencumbered.
Earnings, according to one analyst who follows Five, expects a loss of $.02 for the first quarter 2016. If that happens, will it be enough to make the share price go higher?
I agree, First Quarter Report will decide which direction Five Share Price goes, up or down. Maybe it will be a breakeven quarter.
At the annual meeting of stockholders held on May 23, 2016, the Company's stockholders elected Dr. Bruce M. Gans as the Independent Director in Group III of the Board of Directors for a three year term of office until the Company's 2019 annual meeting of stockholders and to serve until his successor shall have been elected and qualified. Dr. Gans received the following votes:
For Withhold Broker Non-Votes 25,360,739 13,488,178 7,307,980
The Company's stockholders approved a nonbinding advisory resolution on the compensation paid to the Company's executive officers as disclosed pursuant to Item 402 of Regulation S-K in the Company's proxy statement relating to the Company's 2016 annual meeting of stockholders. This proposal received the following votes:
For Against Abstain Broker Non-Votes 25,178,327 13,440,209 230,381 7,307,980
54.14% Percentage of outstanding shares that are owned by institutional investors. Calculated from current quarterly filing as of today.