RE:RE:wynner: RE $97mm dividend being DUMBwynner wrote: Hi sis.
I didn't buy this for the takeout by the company. That little option just dawned on me AFTER I bought a boatload.
Histoically (not hysterically) they pay a dividend since they went public in the sixties. Except during Covid.
They will sell 48 homes in March and then they will pay anothe dividend. Think about that.
Why no spell check on here?
Think about the 80% insider ownership. $10 is just ridiculous. NAV is $36+
Why such small font here?
I remember lessons from our Kindergarten handler.
She would tell us not to count our chickens until they've all hatched.
So why would these guys borrow $100mm to pay a $97mm dividend?
We don't wave a magic wand, pay a $97mm dividend and then attempt to sell 48 homes during a recession while carrying them at 7% cost.
That's dumb
Nice that you say you bought a stake here, assets are attractive. The managament, however, has become oblivious to economic fundamentals and sound capital allocation.