Well, I dont have a whole lot of experience with REITs, but is CBF really overleveraged ?
Yahoo shows a debt/equity ratio of 3.218.
Put another way, for every share, debt is approx $41.52 while equity is $12.903.
This equates to about 24% "down".
Many people buy their first house with 3-10% down.
I dont think CBFs debt is too alarming. Remember, debt works both ways. That is, it enhances returns assuming they know what they are doing.
I think that insiders buying over 548,000 shares for over $7 million in recent months backs up my thinking.
21-Jun-07 MELODY MICHAEL J
Director 5,000 Direct Purchase at $12.66 per share. $63,300
20-Jun-07 MELODY MICHAEL J
Director 4,700 Direct Purchase at $12.74 per share. $59,878
8-Jun-07 WIRTA RAYMOND E
Officer 4,800 Indirect Purchase at $12.85 - $12.9 per share. $62,0002
7-Jun-07 WIRTA RAYMOND E
Officer 39,000 Indirect Purchase at $12.89 per share. $502,710
6-Jun-07 WIRTA RAYMOND E
Officer 1,000 Indirect Purchase at $12.90 per share. $12,900
24-May-07 EBY DOUGLAS C
Director 77,000 Indirect Purchase at $12.95 per share. $997,150
22-May-07 WIRTA RAYMOND E
Officer 13,788 Indirect Purchase at $12.80 per share. $176,486
18-May-07 EBY DOUGLAS C
Director 46,300 Indirect Purchase at $13.03 per share. $603,289
14-May-07 WIRTA RAYMOND E
Officer 14,500 Indirect Purchase at $12.80 per share. $185,600
11-May-07 EBY DOUGLAS C
Director 100,000 Indirect Purchase at $12.99 per share. $1,299,000
10-May-07 WIRTA RAYMOND E
Officer 40,000 Indirect Purchase at $12.70 per share. $508,000
22-Mar-07 MARTIN PAUL
Officer 3,700 Direct Purchase at $13.45 - $13.5 per share. $50,0002
8-Mar-07 WIRTA RAYMOND E
Director 38,000 Direct Purchase at $13.08 - $13.1 per share. $497,0002
6-Mar-07 EBY DOUGLAS C
Director 42,000 Indirect Purchase at $13.23 per share. $555,660
2-Mar-07 EBY DOUGLAS C
Director 50,000 Indirect Purchase at $13 per share. $650,000
2-Mar-07 MARTIN PAUL
Officer 4,600 Direct Purchase at $13.04 - $13.06 per share. $60,0002
1-Mar-07 ANGERTHAL MICHAEL A
Officer 8,000 Direct Purchase at $13 per share. $104,000
1-Mar-07 EBY DOUGLAS C
Director 100,000 Indirect Purchase at $13.07 per share. $1,307,000
1-Mar-07 GOLLENBERG KEITH
Officer 2,000 Direct Purchase at $12.98 - $13.02 per share. $26,0002 |
