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.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.