Post by
retiredcf on Nov 12, 2024 6:27am
Another View
It is a relatively small entity at market cap $741M, but priced well at 9X earnings. Units are up 5.5% this year and 25% over 52-weeks. Q3 revenue of $41.55M beat estimates of $39.9M. EBITDA was $31.3M. Net loss was 3c per unit. DHT.UN bought back $1.7M worth of units under its buyback. Loss declined from 9c last year. Adjusted cash earnings fell from 47c to 45c. It now has 26 royalty streams on 19 products. Two deals were closed subsequent to the quarter end. There were some serious management compliance issues in the summer (see prior answers) but these seem to have been addressed now. It has a decent record of distribution increases and is priced well. Still risky, but our views here have improved since July. (5iResearch)
Comment by
raybay_98 on Nov 12, 2024 11:14am
"is priced well. Still risky" self explanatory! IPO was $10 USD Feb 19/21. US dollar price today $9.52. Nothing to write home in my books. jmho
Comment by
HermannHaller on Nov 12, 2024 1:46pm
The fact that it is trading below IPO price, despite the multiple upgrades to the portfolio growth outlook, suggests it's great value still. jmho (note that they did pay a significant special distribution last year)