Post by
MyHoneyPot on Nov 18, 2023 1:32pm
Out of the woods
https://www.lesoleil.com/affaires/2023/11/15/une-offre-dachat-ajustee-de-575-m-pour-les-actifs-immobiliers-du-groupe-huot-RXELTFQK2VDRFIMM53ZVLDVVAE/
$146.1 million net mortgage investments relating to seven income producing multi-family loans with the same sponsor. Status: See note above.
This loan had a $1.75 share impact on the stock.
The NAV of the stock is currently trading at $6.61 with a book value of $8.43 a share. So it looks like that 146 million is baked into a loss.
The stock should be trading somewhere a little higher than book value, i would say $9 dollars representing 35 percent upside from here.
IMHO