Post by
SNAKEYBOY on Jul 16, 2022 10:58am
MANAGEMENT NEEDS TO BRING OUT THE BAZOOKA
They can buy out the float rather easily for a REIT, because of their strong balance sheet, medium size market cap, and HOPP ownership structure.
Sell 3 buildings: $145 million x 3 = 435 million
300 million debt from credit facility (28.5% to 37.5% debt)
730 million could buy out 75% of the private (non HOPP float)
The malls may not be liquid but they should be able to sell 3 of them in a 2 year time frame.
Comment by
SNAKEYBOY on Jul 16, 2022 11:00am
Even indicating they are doing something like this would give the SP a few $ boost, because it is not like HR REIT that needs to sell a 50-100 properties. It's literally 3 MALLS!!