@ft buybacks drive stock price up, not down.
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buybacks.
No.. this is a typical trend for any company that's value is mostly based on dividends.
With a trailing P/E of 28.85 and a trailing dividend yield of 2.18% your theory doesn't explain the current price, the 27.97% one year return, the 66.64% three year return and the 89.70% five year return.
No... And yes. It all depends on earnings really.
@OP No.. this is a typical trend for any company that's value is mostly based on dividends. We past the buy-in opportunity to get in on the most recent payout (later in jan), thus... investors are looking elsewhere for shot term gains. That inherently drives the stock down.
Are there other reasons? yeah perhaps/probably, but this is pretty "normal" .. it's likely your last opportunity to sell at a good price was 12/31/2025. It will (likely) very slowly trend up towards the FYE after earnings call in Feb '26.
I think there are going to be a lot of reorgs this year. Don't know that it will be in the form of one mass LR. I don't think our stock price has a thing to do with it though.