The company, for 2022, is expected to generate AFFO (Adjusted Funds from Operations) north of $0.65/share.
If you combine that with the peer group multiple ranging from 16x - 24x Enterprise Value/AFFO....this leads to a minimum share price of $10.4/share to $15.6/share.
Now add on the current "unrestricted" portion of cash and cash equivalents of ~$2/share
This leads to an implied share price of a minimum of $12.4/share to a maximum of $17.6/share over the next 12 months.
Layer on the upside from high inflation rents which will convert quickly on their standardized 1-year leases, and also add in their two development projects slated to be completed in 2023, you are looking at a company worth $15 to $20+/share on a conservative basis within the next 24 months.
They have a lot of non-cross-collateralized debt, and cap rates are very low for multi-family, there is very little risk to the company.
If you combine that with the peer group multiple ranging from 16x - 24x Enterprise Value/AFFO....this leads to a minimum share price of $10.4/share to $15.6/share.
Now add on the current "unrestricted" portion of cash and cash equivalents of ~$2/share
This leads to an implied share price of a minimum of $12.4/share to a maximum of $17.6/share over the next 12 months.
Layer on the upside from high inflation rents which will convert quickly on their standardized 1-year leases, and also add in their two development projects slated to be completed in 2023, you are looking at a company worth $15 to $20+/share on a conservative basis within the next 24 months.
They have a lot of non-cross-collateralized debt, and cap rates are very low for multi-family, there is very little risk to the company.
Pesanan dibatalkan
THis failed to hit my buy limit so it is cancelled
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.