They were forced to pay 25% more for Bluegreen due to the class action - I finally got my share a few months ago.. This was the second time for them as they were sued (and lost) over their Woodbridge purchase years ago. It could happen again!
Ahhhh.... I wish it were that easy! I do lots of reading and tracking. The mkt is my passion since I was was 18 yrs old. And yes, in many cases hi divys equate to hi risk. NNA is different, as are many others. If you hold BBX/BFCF long enough they will be winners for you. (As they have been for me over the past 4+ yrs.)
As I've said before... It's a "family" business! Bjut at some pt greed will drive them to sell. (We get to pickup the crumbs.)
At current mkt price, BFCF's 81% of BBX is worth $196M. Subtract that from BFCF's Mkt Cap of $230M and you have $34M. So that's the value of 54% of Bluegreen... CRAZY cheap!
"Book value can be a pretty good measure for RE" is misleading due to the fact that buildings and equipment are depreciated on the Balance Sheet. I think the current book value is GROSSLY understated for BFCF. (To date, of $138.6M property & equipment booked, $48.6 has been written-off leaving an asset of only $90.0M at the end of 2015.)
Always a smart move to bank some profit. I've traded FONR for years and feel it can go much higher on this run. I also owned some a small CT scanner maker that WAS acquired by GE a few yrs ago. I can see the same happening here.
From the Alaska site:
"The Upright (Fonar) MRI is a perfect complement to the High-Field 1.5T G.E. MRI, the combination of the two providing patients with the Best of Both Worlds.”