The move comes after Mercury Real Estate Advisors, a Feldman shareholder, has sent letters to Feldman's board and the SEC requesting the exploration of a sale. Feldman's stock has traded too low and many parties are interested in acquiring its portfolio, the letters claim, among other assertions.

Feldman's stock closed trading yesterday on the New York Stock Exchange at $11.38 per share. Its 52-week high is $13.

On March 30, Feldman released a statement saying that it is delaying the release of its annual report "in order to complete the Company's normally required year-end reporting requirements and assessment of the effectiveness of its internal controls over financial reporting." During its fourth quarter, which ended Dec. 31, Feldman posted a net loss of $1 million, down from $2.1 million over the same year-ago period. FFO totaled $2.7 million, up from the $2.1 million during Q4 of 2005.