No. of Recommendations: 0
The article I read said there were a couple of spinoffs since the original $10 sale.

Yes, one of the spinoffs was Xenia, a publicly traded REIT (symbol XRH) currently trading at about $21.65/share, and InvenTrust shareholders received 1 share for every 8 shares of InvenTrust - so about $2.71 per InvenTrust share.

The other spinoff was Highlands REIT, another non-publicly traded REIT which InvesTrust investors received shares on a one for one basis. According to the board, has a NAV of $0.35/share http://investors.highlandsreit.com/Cache/396343497.pdf but which also currently has a tender offer of of $0.15/share, and is subject to a $60 transfer fee http://investors.highlandsreit.com/Cache/395235170.pdf which means to break even, one would have to tender at least 400 shares. So if one has 1000 shares, they would net $90, or $0.09/share.

So the $10 was/is worth ~$1.50 for Inventrust plus ~$4 for the spinoffs. So that'd be only a ~45% loss, instead of a ~85% loss.

I would say it's probably closer to $1.46 + $2.71 + $0.09, or $4.26/share - a 57.4% loss. Compare that to VNQ's performance, which during the 2005 - 2009 timeframe (when shares of the original non-traded REIT were sold) hit a high of $87.44 on 2/8/07 and a low of $19.95 on 3/6/09, and had a median closing price of $61.28 VNQ currently trades at $87.46 - so at worst, just about break-even, and at best, a 338% gain, and a median gain of 42.7%. And that's not even adjusting for the dividend performance, which has been abysmal for InvesTrust and the spin-offs.

I'd still say that the OP should look into taking action against the FA.

AJ
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