GREY:CMLEF - Post by User
Post by
EVHammondon Mar 20, 2018 2:17pm
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Post# 27748037
Only suckers buying above $10.00
Only suckers buying above $10.00Would you invest in a dairy farm that was selling it's cows?
Cominar is selling 97 of their 525 properties to Slate REIT. They are amputating 97 sources of income and indicate they have every intention of selling more. They're losing money on a montly basis and think they will solve that problem by ridding themselves of millions of dollars of income!
Cominar's distribution has been cut by more than 50% in the last 9 months. In Aug 2017 they slashed the distribution from 12.25 to 9.0 cents per month. In April 2018, it plummets again from 9.0 to 6.0 cents (and most buyers today haven't even noticed that yet).
Serial distribution cuts...selling assets to pay debts...these are the actions of a drowning business.
Some StockHouse contributors have predicted a drop in share price to $12.00. When shareholders realize what's really going on, $12.00 will pass in a blur on the way to 9.25.
Anyone buying Cominar shares above $10.00 is a sucker...and Cominar knows it.