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Genesis Land Development Corp T.GDC

Alternate Symbol(s):  GNLAF

Genesis Land Development Corp. is a Canada-based integrated land developer and residential home builder. The Corporation is engaged in the acquisition, development and sale of land, residential lots and homes in the greater Calgary area. It operates through two segments: land development and home building. As a land developer, Genesis acquires, plans, rezones, subdivides, services and sells residential lots and commercial and industrial lands to third party developers and builders, and sells lots and completed homes through a wholly owned subsidiary, Genesis Builders Group Inc. (GBG), its home building division. The land portfolio is planned, developed, serviced and sold as single-family lots and townhouses, multi-family and commercial parcels. It designs, builds and sells homes on a significant portion of its single-family lots and townhouse land parcels. It also acquires single-family lots from other land developers to build and sell single-family homes in additional CMA communities.


TSX:GDC - Post by User

Post by DanGood38on Aug 01, 2020 1:54am
428 Views
Post# 31353152

A steal of a deal.

A steal of a deal.Deep discount value guys love when stocks go on sale. You make money buying on the cheap and GDC is one of those stocks. Book value is north of $4.50. They took a write off on land valuations in the first quarter so let's assume land is valued appropriately on the financial statements. Debt is 16% of capital? So you have time to wait for land prices in the Calgary area to come back. Add in the significant shareholders and the company itself buying back shares and you have a potential takeover and value added when you wait. Real estate in Calgary. What's to like? Cash flow was 17 cents for the quarter.
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