I get and like HRs plan but...At the end of the day, 50% into it, it's 9/20 = 0.45 NAV. It was one of the strongest REITS up until Landtower President got canned or resigned, now its been underperforming ever since. I would like management to indicate that by 2026 or whatever, if there isnt a gap closure, to go the last mile and split into 2 pure play REITS, resedential/industrial, or sell all industrial and fund a massive SIB if the discount persists, leaving Landtower and some mix-used as the new HR structured like PMZ.
We should not be in 2026 with a 50% discount to NAV