I wish I had the same confidence mistaTea. Too many times I've seen Boards squander capital that could have come back to shareholders. Question is do you take the money and run or trust the Board with capital allocation? Considering they won't even commit to handing over the property proceeds at this time gives reason to believe they're looking at a big acquisition that may require a very sizeable portion of the cash they will have. That's an 'all in' scenario that I'm personally uncomfortable with. I do accept that investment in the business is required, not only for it to grow but indeed for its long term survival. No argument from me as to SKT being undervalued either. What's the catalyst for crystalizing value here.....a capital return along with the proposed dividend policy & some capital expenditure on diversifying future revenue streams or a throw of the dice on a blockbuster acquisition? I'm not sure. It's the 'bird in the hand' thing....best wishes on the $3 hurdle!
SKT Price at posting:
$2.50 Sentiment: None Disclosure: Held
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