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Strategies & Market Trends : Value Investing

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To: Grommit who wrote (62387)	8/18/2019 4:20:53 PM
From: Spekulatius	of 78744

Re GRIF - it started out as a c-corp (Griffin‘s nursery) and was one of the companies in Walkers manual of OTC stocks. i am guessing they never reincorporated as. reit for tax reasons, because if they had done so, a huge tax bill (for regulation of assets to fair market value ) comes due. Also, keep in mind that they are more e developer at this point than an operator, so the taxation matters a bit less. The main attraction to GRIF is that it’s very cheap relative to peers, based on a presentation of their website they trade at ~50% of NAV and building value through development. And yes, their warehouses are smaller and more matched to smaller operators compared to Amazon for example. griffinindustrial.com

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