Post by
50centdollars on Nov 03, 2023 9:59am
Huge Volume
Huge volume - relatively speaking - for this stock yesterday. Over 150K units traded for HOM.UN, and already another 58K in the first half hour today.
No idea what's going on, but hopefully part of it is the company buying back units at these depressed levels. I have no idea why anyone would be selling this in volume the last couple days at these - IMO - dirt cheap levels given what's been happening to treasury yields. This is one of the few REITs that hasn't surged much higher the last couple days... maybe that will happen later today.
Comment by
DanielDarden on Nov 05, 2023 10:28am
Great observation! Friday’s volume was even higher suggesting institutional rotation. Oppposing views on this with one buying from a seller. Ordinarily Hom could buy ~11K units daily but there is an exemption for block purchases apparently according to the press release. I would not be surprised by a takeover offer eventually as the discount to NAV/u is excessive IMO for Texas (no rent controls).