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.

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Melcor Developments Ltd > Nice Q3 - Market Doesn’t Care

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Post by longrun86on Nov 09, 2023 11:04am

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Post# 35726109

Nice Q3 - Market Doesn’t Care

Pretty good Q3 and YTD performance. Community Development looking good, Investment Properties divisin experiencing the headwinds everyone already knows about.

Book value now over $39 and trading at 0.3x book value. Market doesn't care in the slightest with 600 shares traded.

With insider ownership being so high and no real requirement to access capital markets, the obvious question is why does this even exist as a public company!

It would be nice to receive a special dividend some time next year. I would also be happy to see this be privatized or acquired at a reasonable price. The Board has a responsibility to all shareholders to maximize long term returns.

We could wake up one day to a very happy announcement. Until then, we just need to be patient.

LR