7Mês·

$MPW (+0%) Last night, the dividend for the current quarter. 0,08$ for each share held on September 9. This is based on the bank's covenants, which were renegotiated for the further course of the steward bankruptcy. Anyone following this process could already smell the $0.08, as there was friction between the debtors, MPW and Steward this week, which had already been brewing. Yesterday, among other things, there was an emergency meeting of the insolvency court to calm the waters. With regard to the dividend, it should be noted that no adjustment
of the cash allocation strategy has been announced. The final dividend of the year therefore depends on the balance sheet and may be related to a non-cash component if the REIT requirement is not met by a .08 dividend. In the future, the amount of the cash component will continue to depend on the covenants. As soon as these are no longer necessary for Steward, the dividend should return to the generously covered 0.15 of the last quarters.

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12 Comentários

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I am glad that I no longer have anything to do with this share
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@ImmoHai is really not for the faint-hearted 👍🏻
MPW is a large position in my portfolio. The 50% cut has a regulatory background and not a financial one. The share is currently 37 percent shorted. Of course, the stock is not for the faint-hearted - as André Kostolany would say!
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@FantomMuc yes, that's what I wrote 😉 but with regard to the shorts, it's even more trouble than 37% would suggest - 80% are in investment hands, they don't necessarily sell for short-term price gains. E.g. when the shorts urgently want to get out.
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@FantomMuc As I understand it, this is simply a new financial covenant that was negotiated in the trade off against the extended flexibility of the others. As far as I understand it, this has little to do with regulatory requirements.
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I would take last night's ad hoc as positive, wouldn't you? Downside no more CF from the properties in 2024 and only 50% in 2025. But it looks as if you have fixed a large part of it if the court agrees next Tuesday.
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@Tokugawa I'm a bit busy until next week and unfortunately can't post about it, but yesterday was the liberation blow. 2027 95% of the rents and MPW probably gets the opco sales from the steward hospitals. This is it. As of today, a short squeeze is also on the table
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@Monnie No stress. I'll let the position run for now and not touch anything else. I would prefer to move it to IB because I hardly ever look at the portfolio...but the admin work is annoying
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Well, I'm curious about that. The share price is sure to plummet again 🤔
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@-Nobody- I don't think so, the valuation is so low that there is not much room for downside. Apart from that, the payout cap was already announced at the earnings call. But it remains exciting 👍🏻
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It will be interesting to see whether the share falls back to 3.5$ due to the almost 50% dividend cut
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@equity_expert_lpcpa I think I have already placed a stop order and will then, if everything works out, buy again further down
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