Maybe I'm looking at PINE wrong - it looks to me that it's doing FFO of around $1.60 per year and traded down to $15 odd. That's 9x, or 11% yield, not 15%. Despite my pedantry, it does look interesting.
CTO I can't figure out, I'll take your word.
The telco sector isn't looking great - VZ just posted down 23% and was already at 7x, not 5. So whatever multiple it looked to be trading at it isn't right now and the outlook is far from certain.
Google, Microsoft, Amazon, Apple were dream stocks once upon a time. All the really big outcomes once looked expensive. The business fundamentals eventually showed up in their financials - they were in a great competitive situation in a soon to be gigantic market. People who missed it had to learn the importance of business fundamentals and that financial statement analysis isn't sufficient.
There were some ridiculous prices for a lot of tech names during the pandemic, I'll grant that.
The thing with tech names is that you have to sort out the good from the not so good. Painting them all with the same brush will result in leaving money on the table either way. Everything trading at 10x sales isn't exciting and everything trading at 10x sales isn't at an absurd valuation. You have to actually do the work to understand the business and the market they are in.
CTO I can't figure out, I'll take your word.
The telco sector isn't looking great - VZ just posted down 23% and was already at 7x, not 5. So whatever multiple it looked to be trading at it isn't right now and the outlook is far from certain.
Google, Microsoft, Amazon, Apple were dream stocks once upon a time. All the really big outcomes once looked expensive. The business fundamentals eventually showed up in their financials - they were in a great competitive situation in a soon to be gigantic market. People who missed it had to learn the importance of business fundamentals and that financial statement analysis isn't sufficient.
There were some ridiculous prices for a lot of tech names during the pandemic, I'll grant that.
The thing with tech names is that you have to sort out the good from the not so good. Painting them all with the same brush will result in leaving money on the table either way. Everything trading at 10x sales isn't exciting and everything trading at 10x sales isn't at an absurd valuation. You have to actually do the work to understand the business and the market they are in.