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Strategies & Market Trends : REITS - Buying 1 - 2 weeks before going ex-dividend
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To: Michael Burry who wrote (1349)5/25/1999 12:15:00 PM
From: Wren  Read Replies (1) of 2561
 
PZN - I read a commentary on The Street.Com about Prison Realty.

At time PZN merged with Corrections, a management company owned by insiders was set up.

The managemnt company has had to be bailed out by PZN substantially increasing the amount paid to them to manage. PZN has almost 80 million shares, and has just increased the payment to the management company by $65,000,000 a year, according to this commentary. That is over 80 cents a share. PZN made $1.81 or so in the past 12 months.

This looks like a real can of worms. Now wonder the share price fell out of bed.
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