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CommonWealth REIT (CWH) unloads the rest of its stake in Government Properties Income Trust...

CommonWealth REIT (CWH) unloads the rest of its stake in Government Properties Income Trust (GOV) - 9.95M shares - for $25.20/share, reaping net proceeds of $240.1M. GOV -5.3% to $25.12 premarket. (PR)
Comments (10)
  • These guys just hit their existing shareholders as they usually do.
    They seem to have a lot of tricks up their sleeves to enrich themselves (through RMR) at the expense of their shareholders. Is seems that there are a lot of gullible investors out there who are not aware of their antics and keep falling for anything they offer.
    12 Mar 2013, 10:02 AM Reply Like
  • 4n7sjkl

     

    We can also blame the people in the investment firms who sell the new stock. I do not know of any firm on Wall Street or any mutual fund that has written articles on how RMR operates. Most of the articles I have read are on SeekingAlpha and there have been some on Bloomberg.

     

    If you are a shareholder, contact Barry Portnoy and the BOD and tell them you want a special distribution of the proceeds on the sale of the GOV shares I am long CWH.
    12 Mar 2013, 10:41 AM Reply Like
  • The tactics being used by the Portnoys through their RMR management contract with CWH is likened to the same ethics and tactics of previous shareholder and customer abuses by these executive class pirates. It is called, "rip your face off" and it is being done to the CWH shareholders by RMR. Shareholders should complain to SEC about RMR self dealing, abandoned fiduciary duty as the trustee, and probably insider pump and dump the stock via news release manipulation based on a spurious facade of misdirection offering activities.
    13 Mar 2013, 05:34 AM Reply Like
  • I own GOV. What does RMR mean? thanks
    12 Mar 2013, 12:05 PM Reply Like
  • This SA article explains the structure fairly well. RMR has a pretty bad reputation re: how it treats the shareholders of various entities that it manages.

     

    http://seekingalpha.co...
    12 Mar 2013, 01:23 PM Reply Like
  • Thank you David
    13 Mar 2013, 08:56 AM Reply Like
  • retire2014
    Knowing RMR history I think that you will be well serves selling your holding of GOV, which still sells above book value. I suffered a loss of over 50% on CWH and would hate to see others suffer the same fate at the hands of RMR.
    13 Mar 2013, 09:12 AM Reply Like
  • Thank you for the tip 4n7sjkl. I think I will.
    13 Mar 2013, 12:57 PM Reply Like
  • I just looked-up CWH on Google Finance which states that institutions own 74% of the outstanding shares. If all these guys get together and a few individual shareholders join forces, the chance of throwing out the current self serving board seem pretty good.
    14 Mar 2013, 12:56 PM Reply Like
  • The Portnoys do NOT have the shareholders best interests in mind.
    Why should they?? They have hardly any stock, and make tons of money on the fees they charge CWH and their other "captive REITs. The result has been that CWH was mired in muck at $15-17 while many real estate gurus concluded that were it not for the management structure run by the Portnoys (RMR), this stock could easily be $30 a share. ralfie3
    19 Mar 2013, 11:48 PM Reply Like
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