Also, Chambers' current dividend yield is 5.95%, which makes for a very compelling opportunity. Now that Chambers' tender offer has burned down, it seems the selloff is primarily due to the legacy retail investors (or their advisers) that are looking for other alternatives.
Clearly, the institutional market has not picked up yet on the value proposition of Chambers Street. It seems to me that this has created an interesting buying opportunity.
The legendary Sir John Templeton once said, "To buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest ultimate rewards." For me, that's sums up Chambers Street.
My "bottom line" is that $8.40 is a sound entry price for a solid portfolio of triple net assets including a highly capable management team.Courtesy of SNL. At the time of publication the author had no position in any of the stocks mentioned. Follow @swan_investor This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV