Quick Value #249 - Small Cap Asset Sales
Small cap selling assets and returning capital with sale-leaseback optionality
Today’s idea:
Shares trading at 12x FCF and 7.5x EBITDA
Major asset sales brought leverage from >5x to 2x
Significant RE value (at 8% cap = more than entire market cap)
Shareholder returns ramping up — bought back 7% of shares past 2 Q’s
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