The company's board of directors determined a "whole-company REIT conversion is not a viable option today," ClubCorp non-executive chair John Beckert said in a statement.
The board also considered hybrid-REIT structures, but "determined that the financial and operational risks associated with this structure -- such as questionable growth opportunities for each separate company, increased financial leverage, and potential conflicting interests between the companies -- outweighed the limited tax benefits and uncertain valuation benefits of such a conversion," Beckert said.
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ClubCorp also said it expects revenue of about $1 billion for full year 2015, above the Capital IQ Consensus Estimate of $975.57 million.
TheStreet Ratings team rates CLUBCORP HOLDINGS INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CLUBCORP HOLDINGS INC (MYCC) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins."