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Post by Capital on Apr 13, 2024 12:45:04 GMT
This came on my radar about 3 weeks ago. I did a day trade sometime in middle to late March for which retiredat48 justly admonished me Around the first of April I bought some shares and am in at $4.58 average. Yep it closed just under $3.99 Friday This REIT got themselves in a whole lot of trouble when one tenant was unable to pay its rent - that situation is still in the stages of a work out. I woke up this morning to the news that they had sold their majority stakes in five hospitals in Utah and had declared a $0.15 quarterly dividend, all after the close. This thing is heavily shorted at 35%. At the current trading volume it would take 10.7 days to cover. This dividend is not going to be good news for them. Just coming clean that I have been playing this bet on the stock market. I don't normally make these plays any more; but, I just could not help myself on this one. All that said Monday might be a bit interesting. Please don't judge me too harshly. I needed just a little spice in my life and have a very small position here.
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Post by Capital on Apr 13, 2024 15:14:49 GMT
More information on the sale. MPW owned about a 75% stake in the 5 hospitals at a cost of $886 million. They retained about a 25% interest in the same - selling about a 50% interest. Interest is sold to a multi-billion dollar institutional asset manager with proven track record in RE Investment (no disclosure yet of who this might be) MPW is receiving $1.1 billion from the sale - Sale Proceeds of 50% interest ($910 million) and new loan proceeds from refi of the 5 hospitals ($190 million) I calculate a $319 million profit on the sale ($910 million - $591 million (2/3 of $886 million)) Company New Release
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Post by Capital on May 9, 2024 11:38:22 GMT
Bought yesterday at $4.26 - first Rollover IRA purchase. Earnings today before the bell - consensus is $0.07.
Edit to add: Earnings negative $1.23 big miss.
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Post by Capital on May 10, 2024 13:41:57 GMT
Bought 4700 shares today at $4.6895 - Rollover IRA purchase.
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Post by bb2 on May 10, 2024 20:12:16 GMT
Like you said, Capital, you're taking a flyer. Fair enough. Not sure why though - it seems as speculative as BTC. MPW articles are comment bait on Seeking Alpha. Not many articles regularly get over 300 comments and very quickly. It's such a battleground stock and widely hated, by yours truly as well, ever since the WSJ ran aticles on the them 4 years ago, suggesting a REIT run for the enjoyment of management. (Why they got into Europe, I have no idea - pleasure travel on the stockholder's dime is all I could come up with.) Other news outlets local to where MPW has hospitals, chime in just as negatively. I watched this stock go from $24 to 3ish over the past few years, (I owned it in the low 20's and sold, making beer money), much of the time remaining in the grace of many, including REIT analysts, who in my imagination, were wowed by a great salesman in the name of Aldag, the CEO. I've enjoyed watching it drop since I sold and now that it's so low, it might even be a good investment. I have no idea because why bother when there are so many good companies and REITs out there. One question I have is how old are their hospitals? The life of a hospital is about 20 years. Building a new one is trouble - I have a friend who did some hospital building and it's a major PITA due to regs. He's never had such a project that did not include plenty of legal.
Monopoly money on a flyer is still money. Careful.
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Post by Capital on May 11, 2024 13:11:41 GMT
bb2, I appreciate your post. Thank you.
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Post by yakers on May 11, 2024 17:12:28 GMT
Lost a few $ on MPW, will sell sometime, no TLH a holding is in an IRA
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Post by bb2 on May 11, 2024 21:13:50 GMT
I just read the MPW May 9 earnings call. Not sure eactly what to think because I don't know all the lingo and accounting but whenever is see a couple "no comment"'s, I worry. (These calls are always in another language.) It seems there are more than a few properties that are concerning in terms of the health of the tenants. Wondering if Steward was just the first to declare bankruptcy. And Aldag seemed to jump in when other officers should have been answering. He's the problem here it seems to me. Maybe not such a straight shooter? Any investors may want to read it for their own take. Like I say, I made up my mind on this REIT several years and 83% price difference ago.
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Post by Capital on May 13, 2024 15:58:12 GMT
Sold 4700 shares at $5.4521 in Rollover IRA.
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Post by bb2 on May 13, 2024 19:26:52 GMT
Some pop. Meme crew looking to kick the shorts in the shorts? Nice trade, cap. 3x average volume.
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Post by anitya on May 13, 2024 20:10:58 GMT
Bought yesterday at $4.26 - first Rollover IRA purchase. Earnings today before the bell - consensus is $0.07. Edit to add: Earnings negative $1.23 big miss. And the stock roared up and the next day you bought a bunch at $4.68. Massive earnings miss and there is a run up in stock price and you rightly loaded up and sold on Monday for a nice 15% gain. You did not press your luck with a stock that has so much hair but a lot of up momentum. Good job and like how you managed the trade.
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Post by steadyeddy on May 13, 2024 21:21:15 GMT
Capital , good job! In general, I am beginning to worry that meme crowd is back in business (I do not mean you)... driving up stocks that could be on a path of bankruptcy.
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Post by Capital on May 13, 2024 22:06:27 GMT
Capital , good job! In general, I am beginning to worry that meme crowd is back in business (I do not mean you)... driving up stocks that could be on a path of bankruptcy. steadyeddy, I don't know for sure; but, it is possible a large player decided to cover at least part of their short position. There are quite a few hedge funds short this stock. The short position was 38.8% when last reported. I still have another 4700 shares to unload. Fidelity has them on loan to a short seller and is paying me 2% for the loan. I don't plan to stay in this REIT very long.
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Post by steadyeddy on May 14, 2024 0:45:08 GMT
Capital , good job! In general, I am beginning to worry that meme crowd is back in business (I do not mean you)... driving up stocks that could be on a path of bankruptcy. steadyeddy , I don't know for sure; but, it is possible a large player decided to cover at least part of their short position. There are quite a few hedge funds short this stock. The short position was 38.8% when last reported. I still have another 4700 shares to unload. Fidelity has them on loan to a short seller and is paying me 2% for the loan. I don't plan to stay in this REIT very long. Yeah this looks like a short squeeze... I am just hoping you can cash out of the remaining shares in a nice way like this. MPW is pretty risky by any stretch of imagination.
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Post by Capital on May 14, 2024 13:34:31 GMT
Sold 4700 shares today at $6.4539 in Rollover IRA Time to go buy some more bonds with these proceeds
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Post by yakers on May 14, 2024 15:52:02 GMT
Sold 4700 shares today at $6.4539 in Rollover IRA Time to go buy some more bonds with these proceeds What kind of bonds are you looking at? My fixed income these days is mostly MM funds, some treasury notes and my stable value fund. Other bonds are in balanced funds like Wellsley & Wellington but I cannot figure out much about bond buying.
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Post by Capital on May 14, 2024 16:20:55 GMT
Sold 4700 shares today at $6.4539 in Rollover IRA Time to go buy some more bonds with these proceeds What kind of bonds are you looking at? My fixed income these days is mostly MM funds, some treasury notes and my stable value fund. Other bonds are in balanced funds like Wellsley & Wellington but I cannot figure out much about bond buying. Some of it will be in MM Funds and 3-6 month Treasuries. I had been buying 3-year BBB bonds; however, last time I looked I was not happy with the yields. I do not like Bond Funds due to their constant maturity.
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Post by anitya on May 14, 2024 19:31:25 GMT
Sold 4700 shares today at $6.4539 in Rollover IRA Time to go buy some more bonds with these proceeds Just curious why do you pick 4700 each time?
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Post by Capital on May 14, 2024 20:57:33 GMT
Sold 4700 shares today at $6.4539 in Rollover IRA Time to go buy some more bonds with these proceeds Just curious why do you pick 4700 each time? I was selling out of another position to fund these purchases. Since I was buying on the same day as I was selling it would be a trade violation to not use settled funds to make the buys. I have about $22k in FXDXX in my Roth IRA at Fidelity and I used those settled funds to fund my buys. The 4700 was a round amount of shares that I could buy without making a trade violation.
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