LEP ale property group
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Valuation

  1. Fidosnos
    1,318 Posts.
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    12/08/17
    07:50
    Post #: 26454480
    Debt is $460m which makes net property holding value at $620m. They had to draw more than $10m from reserves to pay distribution because they have earned just enough to pay 3.2% out. Can anyone rationalize why this stock is so high? Prima facie valuation based on the numbers above would justify a share price about 30-50% less I would have thought.
    LEP Price at posting: $4.66 Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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