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CKX Lands, Inc. (CKX)
NYSE American - Nasdaq Real Time Price. Currency in USD
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At close: 3:01PM EDT
9 reactions on $CKX conversation
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Finally sold out at $16. Been holding since $10. Probably more room on the upside, but I took advantage of the liquidity today to sell.
This stock is a wonderful value at these prices. CKX Lands owns 14,300+ net acres of Louisiana land, and yet its present market cap values it at only $20.26M.
That's utterly laughable. The stock market is so blind sometimes. I have seen it over and over.
That means Mr. Market is valuing CKX's real estate holdings at UNDER $1500 an acre, when the average value of land in Louisiana is $12,900+ per acre, and make no mistake; some of CKX property is valuable.
Some of this land is just swamp (although some might call it "valuable wetlands") but some is valuable farm crop or timber land and other acreage is prime residential property valued at far higher than $1500 per acre. Still other parts of it produce crude oil and natural gas.
CKX Lands has virtually no debt, $2.27 worth of cash per share on its books, and pays an occasional dividend. So it would be worth owning even if half these things did not apply. Big money won't bother with this one since it's just too small, and that leaves the juicy pickings to little guys smart enough to notice it.
So buy $1500 worth of CKX and tell your friends you own an acre of land in Louisiana. Make this stock your own "Louisiana Purchase."
DISCLAIMER: I own a pretty big bunch of CKX shares and plan to hang onto them, so 'laissez les bons temps rouler,' baby!
CKX Market Cap (the value of all the stock there is) = $26.282M
The company owns 13,944 acres (or over 14,000 depending what document you look at).
So the market cap is valuing that land
$26.282M / 14,000 acres
If you were to subtract out the cash per share from CKX Lands shares, your net cost per share is not $11.19 per share, but $8.92 per share. Price to earnings ratios don't take into account that this stock has a near bullet proof balance sheet.
And yet, if you buy $1413 worth of CKX you now effectively own an acre of land in Louisiana.
That's only 127 shares.
WTRH, online food and grocery delivery can do well this year in 2020.
This thing does. not. move. Does it?
Only 895 of CKX’s 13972 acres are marshland.
194 acres are in metropolitan areas!!
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