- KBS REIT valued itself at $5.16 per share, as of March 22, 2012, which is down from its December 2010, valuation of $7.32 per share.
- On March 20, 2012, the REIT's board of directors approved the suspension of the REIT's distribution.
- The REIT amended its share redemption program to allow redemptions only in the event of death or disability.
- The REIT terminated its dividend reinvestment plan, effective April 10, 2012.
Tuesday, March 27, 2012
KBS REIT's New Valuation
It should have been a clue when KBS REIT did not file its 2011 10-K last week along with KBS REIT II and KBS REIT III. In the back of my mind I wondered why KBS REIT hadn't filed its 10-K, and I even checked my filing service to make sure I hadn't missed the filing. Yesterday we found out why KBS REIT didn't file its 10-K last week. KBS REIT announced a drop in its valuation and suspended its dividend, as it struggles with its financial problems. The filings' immediate takeaway points are below: