RE:Wesport VillageOn the earnings call they said they expect Port Moody sale to happen in 6 to 12 months. Debt to EBITDA is currently 4 times and they are targeting 2-2.5 X. On the CC they expect Port Moody sale would get a little more than half that. Using 2.5 puts debt at 125 million. 206-125 x 50% = $40.5 million. Using 2X = $53 million.
I expect $45-$50 million for the sale of Port Moody. Use it for debt repayment and keep some cash on the balance sheet for flexibility. They also mentioned the possibility of some additional non core asset sales.
Combine this with ongoing cost improvements /turnaround and I expect the stock get back to $12 per share in the next 2 years.
"If you wait for the Robbins, spring will be over".