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September 6, 2007
Martin Whitman Adds to Forest City Enterprises Inc, MBIA Inc., Nuveen Investments Inc., USG Corp. etc. and Sears Holdings Corp., sells Lindsay Corp.
GuruFocus.com
One investor is bullish on Forest City Enterprises.
The market is in fear with the credit crisis, legendary investor Martin Whitman is excited buying. He likes to buy companies that are undervalued relative to their balance sheets. These are the buys and sells during the 3 months ended 07/31.
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Martin Whitman added to his holdings in Real Estate Holding & Development company Forest City Enterprises Inc. by 24.9%. His purchase prices were between $54.81 and $69.25, with an estimated average price of $64.2. The impact to his portfolio due to this purchase was 0.83%. His holdings were 6,757,424 shares as of 07/31/2007.Forest City Enterprises, Inc. engages in the ownership, development, management, and acquisition of commercial and residential real estate properties in the United States. Forest City Enterprises Inc. has a market cap of $5.72 billion, its shares were traded at around $55.55 with with P/E ratio of 53.78 and P/S ratio of 4.68.
NoLandGrab: Why wouldn't Forest City be a great value for investors? The company has a reputation for being able to secure more government subsidies than any other developer.
Posted by lumi at September 6, 2007 10:32 PM