Well, to screw the preferred shareholders, RMR would have to cut the common dividend to zero, which if they have REIT taxable income, I don't believe they can...and the BOD would have to do it, not RMR.One of the things I like so much about exchange traded equity REITs is they are so transparent and losers are so easy to spot. RMR management has a chain of loser REITs that consistently perform at the bottom of their group, which doesn't seem to bother RMR for a moment.I've often wondered why the likes of RMR don't exist in other equity REITs. With C-corps this is typically solved in hostile take-overs or majority share tenders. But with REITs, the rule for diversified ownership would, I'd think, make this kind of takeover difficult. Single entity ownership is generally limited to 9.8%, so not sure how Corvex would be able to gain a majority of shares or how they might go about ousting RMR. But there must be a way, else they would not have bought their current stake.Be interesting to see what happens.BruceM
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