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-0.00065710217938892 -0.00065710217938892 -0.00531157595006023 0.00136896287372686 -0.00367566531595671 -0.0110304183550542 -0.0120331836600591 -0.0115061329536743
Stock impact report

Equity Lifestyle Properties - A Wildly Overvalued And Overleveraged REIT [Seeking Alpha]

Booking Holdings Inc. (BKNG) 
Last booking holdings inc. earnings: 2/26 04:04 pm Check Earnings Report
Company Research Source: Seeking Alpha
SummaryThis REIT is wildly overvalued without ever having attracted either a fanatical following nor loud naysayers. far in excess of earnings and cash flow.Investor presentation shows glowing pictures of swimming pools and golf at manufactured home and RV sites.Extremely overstretched balance sheet which only looks good on "market capitalization" based measures.IntroAs I was scrambling to come up with interesting trades these past few weeks to hedge some of my sinking REIT shares, (sounds familiar right?) I was searching in the back of my mind for anything that I looked at but rejected in the past few months as too leveraged or overvalued. Generally, if you asked me a few years ago what is an overleveraged REIT I would have defined it as one with leverage or debt/capital ratio of greater than 60%. That would roughly correspond to my tolerance for BBB- rated companies as acceptable. I am not so young and careless anymore, so I generally seek more conservative investments, and I also f Show less Read more
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