Deep Value And Near-Term Catalysts Position Winthrop For Outperformance
Dane Bowler • 15 Comments
Dane Bowler • 15 Comments
Wed, Jun. 22, 1:01 PM
Wed, Jun. 22, 12:42 PM
Mon, Feb. 29, 11:59 AM
- The company now sees future liquidating distributions (as of Dec. 31) of $14.18 per share, up one penny from the estimate three months earlier. The boost is mostly from an increase in the liquidation value of 701 Seventh Ave. Time Square investment to $202.1M. This was offset by cuts at four other projects.
- The conference call starts right about now.
- Source: Press Release
- FUR +1.95% to $13.11
Jun. 5, 2015, 12:47 PM
Mar. 30, 2015, 6:15 PM
- Blackstone Group (NYSE:BX) is down 1.8% in late trading as it's putting up $1.2B-plus to buy three hotels from a Paulson & Co. consortium, The Wall Street Journal is reporting.
- The hotels -- the Ritz Carlton and J.W. Marriott in Orlando, Fla., and the J.W. Marriott in Scottsdale, Ariz. -- aren't small properties, with more than 2,500 rooms and 472K square feet of meeting space in total.
- The sales consortium includes Paulson, Winthrop Realty Trust (NYSE:FUR) and Capital Trust (now the Blackstone Mortgage Trust, BXMT).
- It's the dissolution of the CNL Hotels & Resorts portfolio that the group had picked up via foreclosure and distressed sales, and could mark a jump-start to transactions in the group-travel segment.
Dec. 31, 2014, 1:05 PM
Nov. 6, 2014, 3:01 PM
- Currently in liquidation phase, Winthrop Realty (FUR +8.6%) in Q3 switched to reporting results on the liquidation basis of accounting.
- The net assets in liquidation as of September 30 would results in liquidating distributions of $18.16 per share. CEO Michael Ashner: "I am cautiously optimistic that our plan of liquidation will move more quickly and generate greater proceeds than the high end of March 31, 2014 net asset value range which is the net asset value range provided in the proxy statement for the plan of liquidation."
- The NAV range on March 31 was $13.79-$15.79 and on June 30 was $13.63-$15.99.
- The company now expects to make its first liquidating distribution in January.
- The current stock price is $16.75.
Aug. 7, 2014, 4:29 PM
- Winthrop Realty Trust (FUR -1.2%) fell a bit today on massive volume after news it will be dropped from the Russell Microcap Index. Winthrop notes the move isn't unexpected and comes as a result of management's plan to liquidate the company's assets.
- Previously: Winthrop Realty owners approve liquidation plan
Apr. 29, 2014, 12:53 PM
- Winthrop Realty (FUR +20%) is worth more dead than alive, its stock price soaring as the board - frustrated over the share price's persistent discount to net asset value - approves a liquidation plan. It should take about two years to wind everything down, says the company.
- Management expects to sell everything for a minimum of $13.80 per share, the low end of the company's most recently disclosed net asset value range. The stock's gain today puts the shares right at that value.
Apr. 29, 2014, 12:46 PM
Sep. 26, 2013, 9:12 AM
Winthrop Realty Trust, Inc. operates as a real estate investment trust, which engages in the business of ownership, management and lending to real estate and related investments. It operates through three segments, such as the ownership of operating properties; the origination and acquisition of... More
Industry: REIT - Diversified
Country: United States
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