When we last covered Senior Housing Properties Trust's (SNH) common shares we left with the message that
Considering the sheer brutality here in the dividend cut alongside moving to a very risky operator model, SNH shares now have another 40% downside all the way to $6-$7 in our opinion. This is a horrendous situation and shorts should push their bets here as longs will be in complete chaos.
Source: Senior Housing Properties: Restructuring And Dividend Cut Suggests Another 40% Downside
That paid off handsomely as SNH cratered and delivered a negative 33.95%