I've got $1.461B in Share EquityAnd with the buybacks of about $150M worth of shares for the 9 mo ending Sept 2020.
Shares outstanding are 46M. Book about $31.75 a share.
Adjustments would be the value of the land, heh?
9,000 acres in Western Canada. Whats that worth? They sold a share of one developement out there and book a decent gain in the first 9 months of this year.
72 Waterfront acres in POrt Credit where they hold a 31% interest, lets say 22.3 net acres?
34 acres at Zibi along the Ottawa River in Ottawa/Gatineau. 88% interest?
60 Acres in Distillery/Canary/West Don Lands with varying minority interests, lets say average interest is 33% thats 20 net acres.
All of this is carried on the books for about $490M Can. My friend says $20M an acre for highrise land in Canary. About $100 per developable square foot. Meaning I guess if the lot is permitted for 300K square feet than the land under it is worth 300K times 100 or 30M. Does that seem about right?