STRS. I am doing very poorly with my land-holding/property development companies -- Companies that are developing land they hold. They are not reits, nor homebuilders. I guess in this environment of declining stocks and higher-than-last-year mortgage rates that is to be expected: Why now buy these types of stocks that have no dividends, erractic earnings, iffy build out of properties, questionable valuation of the properties themselves, etc.?
Nevertheless, I add STRS to my package. This company's in Austin, TX area, sells below nav (according to the company's presentation), and now sells below a buyout price it received a couple of years ago. Apple's going to spend $1B in north Austin and I believe the jobs created will add to an already positive real estate (home/apartment) market.
This stock is small-cap, thinly traded. The stock, now at a 12-mo low at @$25, I could see rising again to $30 or better over the next year or two. The stock could fall further out of favor too of course. That's more likely to happen in my opinion, than because STRS's assets are declining.
I'll place a small bet.
finance.yahoo.com |
