Added to YB: 2024-09-18
Pitch date: 2024-09-16
MRD.TO [bullish]
Melcor Developments Ltd.
+2.74%
current return
Author Info
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Company Info
Melcor Developments Ltd. operates as a real estate development company in the United States and Canada.
Market Cap
CAD 388.5M
Pitch Price
CAD 12.77
Price Target
26.00 (+97%)
Dividend
3.45%
Sector
Real Estate Management and Development
Category
value
Melcor Developments: Is It Worth Investing In This Alberta Land Business That May Always Be Undervalued?
MRD.TO: Alberta real estate co w/ 57% land dev, 43% investment property. Strong fundamentals: record FFO ($94M LTM), NAV at all-time high. Trades at largest discount vs peers despite 15% BV CAGR over 20yrs. Privatizing 55%-owned REIT at 45% NAV discount. CEO buying, 53% family-controlled. No catalyst, but patient value play on Alberta growth.
Read full article (9 min)