NEW YORK (TheStreet) -- Winthrop Realty (FUR) shares are up 19.5% to $13.76 on Tuesday as investors reacted positively to the announcement that the company's board approved a plan of liquidation.
If approved by shareholders, the plan would take two years before all assets could be liquidated.
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As of March 31, the company has $102.5 million in cash and cash equivalent assets with another $41 million pending the consummation of the proposed sale of two of its properties.
The company expects shares to continue to be traded on the New York Stock Exchange during the liquidation until its assets are either disposed of or transferred to a liquidating trust.
TheStreet Ratings team rates WINTHROP REALTY TRUST as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate WINTHROP REALTY TRUST (FUR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and disappointing return on equity."