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Compass Diversified Holdings Message Board

davidbdc2001 3 posts  |  Last Activity: Jul 15, 2014 2:12 AM Member since: Nov 12, 2008
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    Current stock price

    by lamboman_48 Apr 28, 2014 10:12 PM
    davidbdc2001 davidbdc2001 Jul 15, 2014 2:12 AM Flag

    Well I have a mixed opinion. I was happy we can finally fully develop the gallery and surrounding area and was hoping we'd swing for the fences. Instead they have indicated that we'll look for a partner.

    Then we bought that mall in Northern Virginia - an area we don't really have a presence - and we gave away 1/2 of the gains through 2017 (that's off the top of my head). I really don't understand that - we paid a strong cap rate and then further agree to split any of the near term gains. That doesn't make sense to me. I really felt we overpaid for that property. The selling firm has publicly stated they wanted to move properties - given that I would have liked to see a better cap rate and no way sharing of the gains.

    Outside of that I think we are pretty much fully valued. Not expecting a lot to change going forward and the dividend seems fairly secure at this level. Would have much rather spent some of the No. Virginia money on the Gallery and own that outright. But that's just my opinion of course.

  • Just released Q2 earnings and it was strong. Slightly higher production. Will be interesting to see what dividend is paid out. Also refinanced bank line at lower rates. So should be further strong cash flow as we move forward - looking forward to hearing what they have to say.

  • davidbdc2001 davidbdc2001 Jun 26, 2014 1:45 AM Flag

    Its too soon to know. But it is a little worrying. If larger firms like Pioneer are allowed to export more than just condensate it might move them to bypass firms like APL and just build their own distillation processing facilities. Currently there is little incentive for them to do this and in their interest to allow other firms to process and transport. That equation could change.

    In the short term probably doesn't mean much - and if larger changes are in store the possibility of acquisition would also be in play. APL/ATLS is small potatoes for some of the larger companies.

CODI
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