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Comstock Holding Companies, Inc. Message Board

  • fiberbull fiberbull Aug 14, 2013 6:37 AM Flag

    Backlog up nearly 100%

    People need to focus on backlog here. This quarter backlog was up to over $18 million from around $9.7 million in Q1. And Falls Grove and Townhomes at Hampshire just opened at the end of the quarter. Clearly, sales will continue to accelerate for CHCI going forward. The issue is keeping SG&A in check and getting the margins higher by taking out some of the old JV's and getting better financing on new projects. I think the profits could be up big next year ($0.30+ per share), if they execute well.

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    • steveofcali Aug 14, 2013 1:38 PM Flag

      I agree it's not as dire a situation as the sell off would suggest, but the way they PR-ed it last quarter they certainly made it sound as though profitability was clearly achievable this year when it clearly will still be a struggle. That's what irks me. I'm holding longterm as I believe housing eventually will recover and if it doesnt well God save America. Still an effin pain to be holding this since I did not buy in the $1 range as you did...

      • 1 Reply to steveofcali
      • Yes, the issue with profitability is disappointing. But that has to do with the nature of the deals they made during the real estate downturn. However, as sales recover, there is a possibility CHCI will buy out some of these JV's and also, new projects will presumably have much better deal terms. In either of these cases, profitability will skyrocket. An investment in CHCI here is simply a bet that the DC market will remain strong for the next few years and CHCI will continue to capitalize on this hot market. Plus, you are trusting management to somehow either restructure some JV's or at least provide better deals for shareholders on new projects. I think it's a good bet, as I think management could have easily let CHCI go bankrupt during the downturn. But they didn't. So obviously they do care about the stock, at least somewhat.

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