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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (71544)12/1/2022 1:23:27 PM
From: Paul Senior  Read Replies (2) of 78753
 
CTO. CTO dilutes book value with a 3M (about 16%) public offering. Stock drops of course - as could be expected - from about $21 yesterday to now under $19.

The Company intends to use the net proceeds from this offering to fund a portion of the $96 million purchase price of its recently announced lifestyle, mixed-use acquisition opportunity it currently has under contract.

Seems like a lousy time to be buying real estate, unless they actually got a good deal. Who knows?

I've held shares for several years. Management has delivered ok results (business and stock) in transitioning from a land owner, to land developer to reit. Maybe good results will continue? This stock offering leaves me wondering.


Stock now yields about 8% on current price.


I'll keep my shares and add a few more now.


finance.yahoo.com
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