posted about Brookfield in early April 2002.
was trading at $30.50 cdn.
target was $35cdn. $40 cdn.
downside target was $25
the dividend has been increased to .40US
stock broke over $31 cdn. and is now falling to $27.45 or $18.04 US. If the weak markets continue it may test $25 cdn.
overall though the stock has done fine compared to the markets though not hitting my targets. Brookfield spun out Brookfield homes which was worth .2-1 ( 5 Brookfield shares = 1 Brookfield home share) this would add $2US.
Brookfield has a good balance sheet and good colection of properties, main concerns would be weak comercial real estate market, and concerns in the New York market. Still Brookfield should have positive lease rollover and renewals. With the US economy Brookfield will probably sit in a tight range
revised target $30-$32Cdn.
downside $25Cdn.
BHS the Brookfield homes spinoff (low 8.50 high $10.78) has performed better than I thought. there was some selling presure on Brookfield homes (BHS - NYSE) but the stock has rallied to $10.60.
thought Brookfield shareholders would dump the stock, also lack of coverage and small size of the company on NYSE $320million market cap would hurt the stock.
I kept the shares in the spin off and bought a small position just under $10. Was going to buy more however thought it would go lower.
BHS book value is around $10US, earnings per share $1.38 2002, 2003 $1.45-$1.50. The company has growing revenues and earnings.
By the way they have buiding projects in many states (most of the housing is in the upper end/price range).
The stock is worth watching and on a pullback to around $10US bookvalue, buying if you want a US home builder.
thanks
selkirk
was trading at $30.50 cdn.
target was $35cdn. $40 cdn.
downside target was $25
the dividend has been increased to .40US
stock broke over $31 cdn. and is now falling to $27.45 or $18.04 US. If the weak markets continue it may test $25 cdn.
overall though the stock has done fine compared to the markets though not hitting my targets. Brookfield spun out Brookfield homes which was worth .2-1 ( 5 Brookfield shares = 1 Brookfield home share) this would add $2US.
Brookfield has a good balance sheet and good colection of properties, main concerns would be weak comercial real estate market, and concerns in the New York market. Still Brookfield should have positive lease rollover and renewals. With the US economy Brookfield will probably sit in a tight range
revised target $30-$32Cdn.
downside $25Cdn.
BHS the Brookfield homes spinoff (low 8.50 high $10.78) has performed better than I thought. there was some selling presure on Brookfield homes (BHS - NYSE) but the stock has rallied to $10.60.
thought Brookfield shareholders would dump the stock, also lack of coverage and small size of the company on NYSE $320million market cap would hurt the stock.
I kept the shares in the spin off and bought a small position just under $10. Was going to buy more however thought it would go lower.
BHS book value is around $10US, earnings per share $1.38 2002, 2003 $1.45-$1.50. The company has growing revenues and earnings.
By the way they have buiding projects in many states (most of the housing is in the upper end/price range).
The stock is worth watching and on a pullback to around $10US bookvalue, buying if you want a US home builder.
thanks
selkirk
