PORT BOUVARD (PBD)

[soulman]

Yes, good memory there Mark. PBD was previously Menzies Court and the consolidation was about that ratio as well. PBD was 40 to 50 cents briefly when they have the Mandurah projects back in 2003. Then, came the good dividend announcement and the dirs was buying more holdings in PBD. It jumped to $1.00 within months and eventually I bought in for $1.18. I sold out a few weeks later for a very small profits. I just started out investing and small profits was very appealling. Whatever got away from you, you still got CIY and CPK on the cheap.

[soulman]

Also, the current chairman and CEO of PBD used to be dirs for a company called Cedar Woods Properties (CWP). Their SP has also skyrocket due to WA property boom. CWP was very cheap 3 years ago. I think it was 80 cents or so. Now, they are $4.45.

Other WA property developer doing well are Peet and Co (PPC) and Finbar.

[robbo]

Hi major,

The undervalued propostion partly has been covered now by some of the great other posts here.....

However on a like for like basis on a Return On Equity and RELATIVE P/Earnings (PE) or even PEG ratio -- PBD is the under valued one on my analysis ....

Port Bouvard (PBD) is distintly under valued compared to Finbar, Cedar Woods and Peet and Aspen.

Btw these above Property Developers, are all, also excellent companies imo.

What I find especialy apealling being a ROE fan, is the compounding effect on the ROE going back --year on year on year..... for four consecutive years.

(PBD's ROE) is almost without peer, on the entire ASX ....

Put simply, PBD have now announced they WILL not simply wind up thier existing Property Development and Return Capital, but instead...... will NOW continue to Develop a Business Plan and trade like the other peer Propery Development companies.... as an going property development concerns.(see last two PBD ASX announceements .... major...).

**** What, imo major, has not been perceived ....however.... also; is the valuable "intrinisc equity" and good will -- involved in the Port Bouvard name and franchise...... and the current contacts, skill and ability of the PBD Mgt team.

These aspects are scalable and leverable and imo will be so.

That is why I put the share price future estimate//quote I did on PBD

Kind Regards,

Robbo

quote:Originally posted by major

Hi Robbo,
Thoroughly enjoyed the last dividend and the huge run up since and now out but I am not so sure about being undervalued anymore when their still remains a question mark as to "where to from here"?

Can you explain further as to why you still see them as undervalued?

[robbo]

Port Bouvard (PBD)

Defying any volatility sentiment and kkep its rather solid rise steaming along.

Today, PBD was Up another 3.8% on more than $600 K of solid turnover...

Regards,

Robbo

[robbo]

Port Bouvard (PBD)

My pleasure Major.

The main thread to my thinking; behind my theis re Pt Bouvard from a month or so ago when I flagged it yet Again, was:

(1) The probable forseeable need for the Mr Market to re rate PBD from a "capital return and Project completion story", to a ...continuation of earnings story with all of the previous goodies still intact; but with now more forward earnings to look forward to .....

ie: (2) Yes, investors in PBD can still enjoy the fruits of the previous .... PBD .... known announced status of the capital inflows from the Port Bouvard exisiting sales projects but Now also Add (+) -- to that issue the Extra Additional now re rating upward aspect; ..>>> due to the .... significant more intrinsic value to be now leveraged from the Pt Bouvard Brand and the Pt Bouvard Proven Mgt as performers in the market, and well esteeemed Pt Bovard Property Development Management..... and thus: --- the Higher valuation; that is now (imo) required from a continuing earnings stream versus the previous only a "cash box" style capital return PE rating; that was previously ascribed and reflected in PBD's low PE ratio.

(3) So Major, with the above change in PBD's status; and the combo of PBD's very high ROE >> 100 % ROE,(net real Return on Your Equity in the business) .... and combined with the low PE and extremely low PEG..... and then taking into account the very solid investment in real estate economics surrounding PBD in cash rich Perth, imo, the case for me declaring Pt Bouvard; as intrinsically both a growth AND a under valued and cheap at he price, value investment that was/is under-valued; with a wide margin of safety, was I felt quite significant.

Kindest Regards,

Robbo.

PS. imo investors also in ISS ......(see seperate post today on the ISS thread, )..... come a few weeks time ...-2-3 max, imo, will also feel not at all disappointed. ...[]

... btw Major, PBD is up 47% in just on only 5 weeks.-- and you can add 12% fully franked dividends (as just on half of the full years declared divs) to that number too...[]

Regards,

Robbo

[thereslifeafter87]

I don't see the value Robbo.

You could go buy UOS at less than NTA.

It's also at around 4x earnings.

As opposed to PBD trading at 5x book, 10x earnings...

[robbo]

Port Bouvard (PBD)

(PBD)-- is Up 31% in the past 2.3 weeks....

and is also up in capital growth (share price) 160% in bit under 12 months--- [][8D]..

And an annualized 32% fully franked Dividend.

Regards,

Robbo

[robbo]

Port Bouvard (PBD)

Hits another All Time High today...[]

PBD has Just been screaming.... up the charts over the last 3.5 months-- up approaching---& now reaching --An Extra Increase-- of over-- 78% in that time.... and >> 414% -- yep, 414%-- increase in capital appreciation on share price-- , since the start of this.... PBD thread ...

And remember S/Traders, ....with Port Bvde; (PBD) add to that 21% Fully franked dividends .... ---on this fab.... compounding plus plus--Value Intrinsic -- Investment-- yep --21% !![]

Kindest Regards,

Robbo

[soulman]

Robbo, is this dividend yield sustainable?

[robbo]

HI Soulman,

Yep, but PBD is a very rare bird....

and frankly...... it is a trade off between:

(1) share price gains,

(2) rarer stock buy-backs and

(3) even rarer returns of capital.

(4) Fully franked divs.

Investors attracted to PBD like the Divs--as do the Mgt....

Also..... **** PBD has some rather ..... Very Unique Comp Advantages..... and 'branding'-- 'mixed in' with unique favourable macro economics-- in a 'franchise Niche' which it has created; in a rareified part of the world....

Put simply-- there is no share on the ASX with the:-- ROE/PE/eps-- Profitability --both gross and net-- AND the ability to have the free Cash flow to keep paying the Fully franked Div Characteristics (as a TOTAL fundamental package)-- and that achieved now for 5 plus year... on year .....consecutive compounding years....--- of PBD-- on the entire ....ASX....[?][8D]

--....Soulman; I have been banging on... repeatedly--- (here at Sharetrader ASX Divison)---- about just how very how good INTRISNSICALLY -- PBD is.... and how much of a Wide Margin of Safety-- exists in PBD there is -- for nearly 3 years-- since it was 73-- 87 cents-- and no one would ever believe me!! [8D] ....

I could never really figure that disbelief out-- but then again Soulman; that goes with a lot of my picks Soulman!!....--

.....everyone thinks.....

My share picks are just plain silly -- and that I am right off my tree, & bannanas !![:o)][:o)][:I][:I]....

....Probably ....they are right !![?][?]!!

Soulman, on the numbers-- fundamentals-- let alone the qualititive Value --- I defy you to name one ASX other company.... that even gets within a bulls roar -- of PBD-- and still no matter how much I banged the Drum-- everyone here at Sharetrader thought I ....
was.....

"just taking the pi%$#@ss .... "....!! [:o)][:o)]

.....Maybe I am !! ..... [:I][:I][:I]

But the (PBD) numbers do..... (and always imo have)-- spoken their own very good story.....-- --.....and I talk of the five and six year--- year on year on year on year compounding wealth numbers-- with a five year consistency history of increasing Return on Equity--and such consistently high Returns of Capital thru Fully franked Dividends ....as well uniquely of increases in share price for the last year of in excess of 157%.....

It (PBD) also has a unique mgt skill set.... the mgt were the founders of Cedar Woods Properties....but that is another story, for maybe another day ....

Kindest Regards,

Robbo