MPW’s turnaround story continues.
Dividend declared.
They still have a tenant in Ch 11, but that should be resolved this summer. Once that happens the dividend will be increased.
206 million shares shorted, down from 220 million but still makes up 46% of the float. A short squeeze is a possibility.
Assets are undervalued based on the recent sale and refinance transactions. Assets could be worth more than 20 billion. Current stock price like buying real estate at less than 50 cents on the dollar.
The core business is solid. This is a very profitable REIT that hit a rough patch during COVID.
The stock price has went from sub $3 to over $5 since January. However, it’s still very much oversold. Value based on book is over $12.
It’s time to buy.
Any other similar turnaround stories out there?
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