After 12.5 million shares are cancelled, there will be little public float left.
more importantly, the reit saves 12.5 million a year on distributions.
this is where shorts get the screws really turned.
51 million units today. .34c FFO our unit. Once this SIB is complete, the same exact FFO will be .49c per unit or 1.96 per year. Currently we are valued at 9x FFO.
that exact same piss poor valuation put D value at 18-19 per unit! This is assuming FFO remains flat. It won't because distribution savings, and the results showed we are rounding the corner.
103% lease renewals this year. Two building purposely being held vacant with deals in progress.
Do not sell, make the shorts go bankrupt.
ohh and Cooper still have 250 DIR money to go.