They own massive water rights. Some say they own more than they need to farm. Some day they could sell rights to other entities. The price of water in California is going up.
"At Friday's closing price of $235 the market value of the entire company is $168.8 M. It would appear that the Pardee shares are very undervalued."
Or it could mean that their coal, oil and gas and solar assets are only worth $32MM????
Am being sarcastic.
Sent a letter to Linda Dougherty (PDER Investor Relations) asking what the plan is to get shares to more accurately reflect intrinsic value. Advise you do the same.