There is a guy here that keeps harping about NOI,
well let's look at NOI for the 3rd quarter, 8,755,664 right from the press release. Well lets multiply this by 4, we get 35,022,000. So let's capitalize this at 6.0%,we then get 583.7MM, let's use 6.5%, we get 538.8MM. Total Revenue properties, on 3rd Q, financials was stated at 532.9. From a real estate perspective the current market cap of 108MM, is way below the stated value of the equity on the financials, of 153.5. Now on a pure real estate basis, this makes no sense, but it makes a lot of sense to insiders accumulating, because they expect a portfolio sale. The irony is that the market value of the stock sells at a deep discount to the net disposal value of the assets. Such is life with a REIT, but do not be fooled, these assets will sell at 6.00/unit. Sooner or later people will pick up on this, for now let the PAR universe stay aloof, as has been the case all along.