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Melcor Developments Ltd T.MRD

Alternate Symbol(s):  MODVF

Melcor Developments Ltd. is a diversified real estate development and asset management company The Company develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The Company operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land to be sold as residential, industrial and commercial lots. The Properties segment owns approximately 24 leasable commercial, retail and residential properties and other rental income producing assets, such as parking lots and land leases. The REIT segment owns approximately 38 leasable commercial and retail properties and other rental income producing assets, such as residential property, parking lots and land leases. The Golf segment owns and manages three 18-hole golf course operations (one of which is 60% owned) and has a 50% ownership interest in one 18-hole golf course.


TSX:MRD - Post by User

Comment by babybunnyon May 03, 2023 5:00pm
91 Views
Post# 35428532

RE:RE:RE:RE:RE:AGM

RE:RE:RE:RE:RE:AGMMelcor really is an unbelievable deal.  But that alone will not move the share price.

My somewhat pessimistic base assumption is for the company to continue cranking out decent earnings, $2 - $3 a share and growing, which represents about an 8% ROE.  

The fact that ROE remains below "par" of 10% will continue to restrain the share price.  But nevertheless the current level of suppression is ridiculous and probably not long for this world:  I expect the share price to drift up into the 20's over the next couple years, even if earnings remain unremarkable.  If EPS gets above $3 though watch out ... that is when we might finally push past book value.

I am quite happy to rake in the rich dividend while waiting for a reversion to the mean.  Should be an easy multi-bagger for those willing to buy and hold for five years.
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