Travis, any thoughts on why MPW is dropping last couple of days? Didn’t see any specific news on them…like more shares offered which caused the last drop (which recovered nicely)
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There’s been no recent company-specific news of note, I expect the stock just got a bit ahead of itself, so when all the REITs fell about 3% in recent weeks MPW fell a bit harder. I still thin there’s potential to get to $23-24 by this time next year IF they establish more of a dividend growth expectation among investors (which would mean at least one more dividend increase next August, if not before). This is what I wrote back on November 1, after earnings, my opinion hasn’t changed since then:
I don’t know if this dip below $20 is “bottoming out,” it can certainly fall further, but I do still think it’s a reasonable valuation and the company should do well from here for patient compounders.
Awesome analysis and insight, thanks for taking the time to answer so thoroughly.