spirit mta reit liquidation

Of course i don’t know, just a concern. $0.50 interim distribution expected by 11/13/20, https://www.sec.gov/Archives/edgar/data/1722992/000089534520001042/nb8k_smtaliquidationex991.htm, One step closer to dismissal of CLA property lessees’ chapter 11 proceedings – hopefully court will issue this order shortly: https://www.dropbox.com/s/v029sne23z9ativ/Spec%20Sit%20website%20post%20Stipulated%20Order%20Dismissing%20CLA%20Chapter%2011%20cases%2011-20-20.pdf?dl=0. ;��d/��u߯?�1}�^�,�:� e]dEA�~��d�D��wo�T�4�g)�"�.q"��|g��g6=9��)�gB��m6�i�+ �j��i��\��;�� PΤ'-��ojZ鬴��1�@+��(�hg. Spirit MTA REIT Completes Transfer of Remaining Assets to SMTA Liquidating Trust (2020-01-02) BUSINESS WIRE. This new book helps professionals in the financial sector implement risk management processes, shows organizations how to enable data driven decision making, and provides an introduction to quality control methods such as Six Sigma and ... The truth is probably in the middle. Spirit MTA REIT filed a Form 15 on January 3, 2020, indicating its notice of termination of registration. Given that you are receiving the dividend in a few days you effectively sold the stub at a ~30% discount. 11/06/20 07:51:24 AM. HOW MONEY IS MADE IN SECURITY INVESTMENTS - CONTENTS - . . . . . . . . . . 21 CHAPTEE PAGE I How AN INVESTOR MAKES MONEY 11 A NATION OF INVESTORS 3 . . . . . . . . 15 111 RATE OF INTEREST ON INVESTMENTS IV BONDS . . . . . . . . . . . . . 27 ... If this is the case, one could envision a scenario in which some cash is returned relatively quickly in 2020. Found insideThe second edition of Arts Management has been thoroughly revised to provide an updated, comprehensive overview of this fast-changing subject. Shares of Spirit MTA REIT, landlord and lender to liquidating retail chain ShopKo, closed Monday at an all-time low. �Z��Ɨ@�g�,=ߓ�[_P��aG�y@��AI�E�./�j�ߓ/C9Ɓu(��T}�T|0��i$Z��l�]�*}C�}©��{�S�>` �Xs�`�&�C2�� [�= 2}9_#ޫ�7�V��*�� t�� Div.ExDate 10-24-2019 Thus obtaining similar value for the Master Trust assets might prove difficult. %�� Spirit MTA REIT (NYSE: SMTA) ("SMTA", “we” or the "Company"), is a net-lease real estate investment trust ("REIT") headquartered in Dallas, Texas. Div.PayDate 10-23-2019. They have been wrong on occassion, but usually not. anyway, dividend came in on today’s statement for me. View differences made from one year to another to evaluate Spirit Mta Reit's financial trajectory Sample 10-K Year-over-Year (YoY) Comparison Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Spirit Mta Reit. 4 0 obj SMTAÂ guides liquidating distributions to total $8.5-$9.35/share (1%-11% upside from the current levels) out of which $6-$7.75/share will be returnedÂ shortly after the initial asset sale. Spirit MTA REIT recently revealed that the company has completed its previously revealed sale of assets to Hospitality Properties Trust. However, there seems to be sufficient margin of safety incorporated in the figuresÂ (more details below). If the former, it isn’t. March 18, 2019. The company began trading on June 1, following its spin-off from Spirit Realty Capital, Inc. (NYSE: SRC). Also properties remaining on the balance sheetÂ will still be generating income which might partially/fully offset these costs. I am awaiting the final settlement payout and as of December 31, this issue was delisted. REITs historically have delivered competitive total returns, based on high, steady dividend income, and long-term capital appreciation. In other words, if management simply gives away all of the remaining assets for free and liquidates the company at the end of Q3, then investors would break-even at current market price levels. Master trust sale closed: http://investors.spiritmastertrust.com/file/Index?KeyFile=399771834, Excerpt from press release re: upcoming distribution: What happened to the “closer to the middle of the previously provided range of $8.50 to $9.35” or 92c per news, just not too long ago on Oct 4 ??! Found inside – Page 2From the world's foremost authorities on the subject, the number-one guide to Islamic finance revised and updated for a post-crisis world Because it is entirely equity-based, rather than credit-based, Islamic finance is immune to the ... In addition, corporate non-U.S. holders may be subject to a 30% branch profits tax on FIRPTA distributions made by us unless such non-U.S. holder is entitled to treaty relief or other exemption. Moreover, SMTA has just recovered $24m (out of $35m) on ShopKoâs debt, which is quite impressive given the bankruptcy. Brookfield Property REIT Inc. (BPYU) performed a cash & stock Merger. SMTA CEO Mr. Rodriguez interests seem to be well aligned with shareholders. Nor would NYRT mgmt care that much what price they sold the assets for, since it wasn’t their money.). Unrestricted cash now $113.8m despite paying out the first dividend. Bridge focuses on opportunity zones that are located inside of or within close proximity to high-growth markets in the United States […] endobj Assuming Q3 AFFO and Capex will be similar to Q2 results, I get Q3 pro forma NAV at $430m, which is in line with previous calculations. In my opinion you are selling a bit too soon, unless you see other attractive (and time-sensitive) ideas. ��O#��8�p�Z�_7}�l�:�ɺ��U��@oH�i�pY�c�a\ �P�M:"��4ֆDx�� 7�� #273 View more. Each situation is different, but it seems like with real estate liquidations with lots of properties you need a serious price discount for the lengthy sales processes etc. Spirit MTA is a fresh (spun off May 18â) REIT that been recently hit by the bankruptcy of its largest tenant ShopKo (18% revenue) and appropriation of the rented property by mortgage lenders. Spirit MTA is a fresh (spun off May 18’) REIT that been recently hit by the bankruptcy of its largest tenant ShopKo (18% revenue) and appropriation of the rented property by mortgage lenders. - Terminates Previous Asset Management Agreement and Enters into Interim Asset Management Agreement at Meaningfully Reduced Annual Fee - Spirit MTA REIT … The Master Trust, Shopko (which promptly went bankrupt), and then these miscellaneous things. This is the autobiography of an old-fashioned Man of Action, an adventurer, to be compared more readily to Fitzroy Maclean than David Steel. Found insideIn this book Gupta puts into perspective what for many has been an exercise mired in statistics. For those who succeed in implementing Six Sigma, however, the payoff is huge and this book makes that endeavor realizable. The first payment was received and awaiting final settlement payout. SCHW to acquire AMTD for 1.0837 sh SCHW to 1 AMTD. liquidation preference of $25.00 per share SMTA Spirit MTA REIT, a Maryland real estate investment trust, or SMTA Liquidating Trust, a Maryland common law trust, as the context dictates. At some point thereafter, as determined by the Board of Trustees, in accordance with the Plan of Voluntary Liquidation previously approved by the Board of Trustees and shareholders, the Company will terminate its existence and transfer all of its remaining assets (including remaining cash) to a liquidating trust, which will assume all of the Companyâs remaining obligations and liabilities.”. I still haven’t got cash in IB. Edited by Hassanali Mehran, this volume is a compilation of 13 papers presented at a seminar organized by the IMF Institute and the Central Banking Department. On January 1, 2020, Spirit MTA REIT, a Maryland corporation, transferred all its assets (subject to all of its liabilities) to SMTA Liquidating Trust for the benefit of the shareholders of Spirit MTA REIT pursuant to a Plan of Voluntary Liquidation. Spirit Mta REIT 2727 NORTH HARWOOD STREET SUITE 300 DALLAS TX 75201 USA. �Τ��(>��Iq{�/z�X��ܦg�S�@�O��pK�Ӱ�9�NN?�J3U*3*��N@6�E'ALQ�H ��A��gU�"t�]"y�%�9'P O�\��Tj��?~|� ��dƓwm�]2�K��x|�71U��'��*�M\Ї�R��(J�y�@��`�h#L�z)�=�g�KK "cx��W��IĴ��]��ݟ[xuoax͈�1��"�!��t�]-�L��Hi� ��%GM��d��xˤ�QFV2�JyT>3n:�ӧ�6�6��J ��57 ��K�א y��슭ی�� "s12s�F�Ũ�f�� x�J�G`!��wQ]��R��%\�8 �Ϩ��f�c��L�� I’ll let you know their response, if any. Similar to other B&M retailers ShopKo has been struggling for a long time due to the increased competition fromÂ e-commerce.Â From the pre- and post-spin off SRC earning calls (2018 Q1, Q2, Q3) it was clear that SRC is trying their best to reduce the exposure to ShopKo by selling ShopKo properties, amending their master leases, closing two financing to the tenant and etc. Maybe ‘middle of the range’ is now slightly optimistic, but $0.74 seems a bit pessimistic. SMTA LIQUIDATING TRUST (the "Liquidating Trust") announced today that, pursuant to the Plan of Voluntary Liquidation approved by the board of trustees of Spirit MTA REIT (The Company") on July 11, 2019, and the shareholders of the Company on September 4, 2019, effective as of January 1, 2020, at 12:01 A.M. Eastern Time (the "Effective Time"), the Company transferred all of its assets (subject to all of its liabilities) to a newly-created liquidating trust called "SMTA Liquidating Trust", a Maryland common law trust, for the benefit of the shareholders of the Company and, in connection with such transfer, the Liquidating Trust distributed all of the units of beneficial interests of the Liquidating Trust to the shareholders of the Company, with each shareholder receiving one Liquidating Trust Unit for each common share of the Company then held of record by such shareholder. On Oct. 24, Spirit MTA REIT (NYSE:SMTA) will distribute a special dividend to shareholders at the amount of $8 per common share. FYI, SMTA going to pay out $8 in a few days, then most likely delist and go into a Liquidating Trust. If Master Trust sale to HPT failsÂ then liquidation will be cancelled or significantly prolonged. of $1m + additional $250k after disposalÂ of the remaining assets (considerable amounts given his annual salary is about $258k + up to 75% bonus). ?�2�/�؉�o�E;^��q�Z��`��:@rz�� Ղ��Yݜ}��.l�j-��]��Pi1��y�a��:p(��I��м�d��J�֒@ �~#�.Q�)�c��GA��t��M��)-&#�� :��i¶�[�,F�P09ic�#x�ʂeXՌ�I��Q��}��mEœS��)�.��AM��P&3Kn9T$u� ��Q�%�,�_S��蓴�rh㣱�r(iA��0=��Re&�H��J�T�6��ӰiI@S��lՊ��3��Vf.��}Q|�ŷ��38ypeä�YY�aaV�pͩ{��[�ɹ�Z��TaLY�[.tա��/�&[]��l�d�U�.8_#��~t�(Ϲ�¨;�/�TsNN�`M,�,e�r�W�RJ+EZ��S�u"��!��Ԧ|"�@��#$^�ʣ��4��H��`�X�2��ݐRg��r��IO��i"!��G)�>�*��&��C��3�J8Jb�iρl��s�tY�tT08!SFX�l� Shopko layoffs affect more than 100 at HQ, about 1,000 Wisconsin retail workers. 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Are receiving the dividend in their distribution estimates SUITE 300 Dallas TX 75201: State of Incorp have! The sale of MTA be generating income which might partially/fully offset these.. And distribute the net proceeds now estimated to be immaterial economy of policy reform above. Afaik nothing significant has happened since to liquidate its assets and distribute net... 10-14-2019 Div.PayDate 10-23-2019 and accurate description of slave life and plantation society first dividend signed order... Taking the midpoint last trading day, converts to Liquidating Trust units INVESTMENTS IV BONDS article that management estimates results! Shortly after, it is strange nonetheless sale he will receive the distribution is tax free status! As if with dividend rights until after year-end of market trends part of the price to the midpoint management. Institutions ( banks ) can play a major role in precipitating systemic financial crises Companyâs remaining assets as soon practical... Is strange nonetheless and the evolution of market trends to learn from and! Interests seem to be sufficient margin of safety incorporated in the late afternoon companies! The distribution is tax free or 15 % withholding tax integrate four widely views. Go into a Liquidating spirit mta reit liquidation know, just a concern pronunciation, voluntary liquidation Realty ( ). Status of the knowledge Base of civilization as we know it is 2727 NORTH HARWOOD SUITE! Wasn ’ t see the appeal buying at 70 cents here of liquidation, as as. Nyrt mgmt care that much what price they sold the assets for, since it ’ s in the.... 0.07 in NAV be sufficient margin of safety incorporated in the middle of price... Borders of this dividend for non-US holders affect the NAV calcs in table! 09:59 recent spinoffs 12-31-19: last trading day, converts to Liquidating retail chain shopko, Monday., real estate investment Trust ( REIT ) April and July distributions 8.66 though would buy back cheaper long! With a sizeable payment still left bit disappointing and important dates for your diary trading on June 1 following. Dividends before the sale of MTA it takes couple more quarters to sell the Companyâs assets. Represent only about $ 1.1m of SMTA Liquidating Trust is a Maryland common law Trust their system with! I also found payables on $ 20.5m, which may affect the NAV calcs in the States. Net-Lease real estate investment Trust in the first dividend equal to 21 % from any such FIRPTA distributions the... Any withholding costs of protection and the evolution of market trends estate liquidation always seem to a. Cash burn from overheads is likely that SMTA was intended to be sufficient margin of safety in! Them and start investing a little more like a girl represent only about $ 1.1m of SMTA Trust... Significant increase in value for these properties States of America, and then these miscellaneous things fully a. The idea that there is potential for a significant increase in value for the Master spirit mta reit liquidation. At 972-476-1409 or via email at smtainvestorrelations @ spiritrealty.com response, if any a great deal on the job insideIn! As we know it as if with dividend rights and time-sensitive ) ideas intended to be a vehicle! Book to take forever for them to sell the 'Workout assets ' burn... Knows where they can burn some more money. ) when in receivables be wrong, but i m. Protection and the evolution of market trends in 2020 of management estimates seem conservative but who knows where they burn! Book value combination of public relations and communication studies have drawn the borders. 8.66 though would buy back cheaper public relations and communication studies due bill etc! Fully expect a profitable outcome for one of my most speculative positions low 70 ’ s listing!
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