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GEO Group stock drops after high dividend suspended, REIT structure being evaluated

GEO Group stock drops after high dividend suspended, REIT structure being evaluated
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Monmouth Real Estate s stock surges after Blackwell s buyout bid values REIT and nearly $1 8 billion

Shares of Monmouth Real Estate Investment Corp. MNR, +1.33% surged 5.9% in premarket trading Monday, after investment management firm Blackwells Capital LLC said it made an unsolicited bid to buy Monmouth in a deal that values the real estate management company at about $1.77 billion. Blackwells said it will pay $18.00 a share in cash for each Monmouth share outstanding, which is 5.9% above Friday s closing price of $16.99. The stock had rallied 12.9% since Blackwells said it privately submitted its first all-cash bid to the company on Dec. 1. As a public company, Monmouth has significantly underperformed comparable industrial REITs over the last five years, further exacerbated by the stock s lack of liquidity, said Blackwells Chief Investment Officer Jason Aintabi. For myriad and tangible reasons, Monmouth in its current state, does not belong in the public markets. Pursuing our offer is the best way to maximize value for all Monmouth shareholders. Monmouth s

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