TSX:PRV.DB - Post by User
Post by
CanadianJrson Sep 29, 2016 12:29pm
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Post# 25291093
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Watch listForgive me for my loose math here I'm working off my phone on my lunch. I've had this stock on my watch list for a few years now and just bought in about a half hour ago on this weeks news and its share price drop.
So they acquired $63 million in new assets while suffering a minor financial lose of $14 million while increasing their current share float by 11 million shares for proceeds of $27.5 million (please correct me if I'm wrong). This comes with almost full occupancy and lease agreements with avg life of term being 8.8 yrs. yet everyone concentrated on the new issues at $2.25.
The current market cap is virtually the same price as the new assets are worth not including the current assets. $68 million market cap (stockhouse quote) and $63 million in new assets.
This has no where to go but up with an increase to dividend with new income as per rules of income attributed to all REITs right? Even if we remain at the current P/B ratio we should see a market cap over $100 million.
My math and current understanding of this is very loose at the moment but this just screams undervalued share price with a 9.24% dividend yield. Again please correct me if I'm wrong and good luck to all.