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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (55777)	8/4/2015 12:05:16 PM
From: E_K_S	Read Replies (2) of 78682

Textainer Group Holdings Limited (TGH) - upped my position by 60% w/ buy today @ $19.79/share Earnings out this AM and were actually better than I expected. TGH selling below BV of $21.00/share. The company has the highest lease utilization in the industry at 97%. Their avg lease period is 39 months and only 6% of their leases mature this year. Company beat on revenues up almost 11% y/y. From the report, management is doing a good job of expanding their container fleet (including company owned), selling used containers in a slightly depressed market and keeping overall debt leverage low (the lowest in the industry) while lowering their interest expense/debt cost. Stock sold off on EPS miss and lower outlook. Their 9.5% dividend is safe w/ excellent coverage (better than TAL). I see it as a good 'value' Buy entry point at current price levels. EKS

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