CET valued PR shares at end of Q3 at $$4,200 per share. PR's '16 appraisal with a 20% discount was $5,300 per share. Maybe we'll see CET's board increase their PR shares at end of this year? A $5,300 per PR share is about a $1 per increase (5%) in CET's NAV. Also PR holds a large amount of common stock, so PR's shares may have another increase in appraised value in '17.
Any comments why PR's shares held by CET seems to be understated by CET's board?