RE:RE:RE:$15.50?......no thanks! Incorrect again, all we did was sell assets and buyback our own equity - increasing the equity for anyone who dosnt sell before or into the SIB. Assets declined and debt remained relatively the same. The REIT increased its leverage on a gross basis. Same amount of debt that now needs to be serviced with more FCF from D operations and 50% less DIR distribution income. Distributions are discretionary, you own that FCF as an equity owner whether they pay it or not, so although a consideration for Cooper managing the enterprise's capital, should not impact your FCF analysis as equity owner. The enterprise is structurally more indebted. Again, I'm not saying it's a bad thing, as we still have another liquidity bazzoka via DIR units, I'm just saying I highly doubt a second SIB is coming all else being equal, in the current macro environment with the office REIT environment specifically being what it currently is...
I'm not suggesting they need to fund the second one with debt, this comment makes no sense... if they make a second move, the assumption is it will be funded with DIR sale proceeds.
all the best buddy, wifey owns my a*s for the rest of the weekend. Cheers.