Totally disagree with not enough shares to buyback shares. It should have a greater impact if shares are tightly held and therefore the bid would have to increase to pry the shares from our hands. As of now its moot since all we can do is speculate. If the stock was back at the IPO price IIRC was ~ $7.50 then the scarcity issue might be a relative marker but alas we are ~ 35% below it so somebodies are selling. Such my point with the divvie we continue to lose ground. Its like the divvie continues to lower the price of the stock deduct $.48 cents a year taxable from the IPO price and what do you have left..... Are we Shareholders or Suckers think so far its closer to a liquidating divvie (price drop is signaling the lost of value via the dividend). Not fully convinced that's what we have but its worth thinking about. Especially as we sit here in the mid $5 dollar range and paying taxes on those divvies while we see the stock price languish.
If its down to a higher stock price or fully taxable divvies I want the the higher stock price. At this point it appears Mr Market is labeling it a liquidating divvie as the stock price continues to drop.. So we get to pay extra taxes on a less valuable stock the worse of the options. Not saying this is what mgmt wanted to happen but its what Mr. Market is calling the current situation. Hopefully we get the new properties cooking and get the stock price and dividends working for us all.
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