var _hmt = _hmt || []; (function() { var hm = document.createElement("script"); hm.src = "https://hm.baidu.com/hm.js?d387e539c1f2d34f09a9afbac8032280"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(hm, s); })(); <V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆 name="V8彩票注册登陆escription" content="是全球最热门的彩票平台之一,以服务为根本,以客户为中心的宗旨,为您提供前所未有的的游戏体验,在这里我们将为您打造一个公平、公正、公开的安全平台,随处都可以玩到的高频彩票游戏与开奖结果以及走势。's V8彩票注册登陆argest V8彩票注册登陆olding V8彩票注册登陆s V8彩票注册登陆rading at a V8彩票注册登陆iscount, V8彩票注册登陆tocks: V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆, 是全球最热门的彩票平台之一,以服务为根本,以客户为中心的宗旨,为您提供前所未有的的游戏体验,在这里我们将为您打造一个公平、公正、公开的安全平台,随处都可以玩到的高频彩票游戏与开奖结果以及走势。, release date:V8彩票注册登陆ec 13, 2019" />爱购彩注册地址 var _hmt = _hmt || []; (function() { var hm = document.createElement("script"); hm.src = "https://hm.baidu.com/hm.js?d387e539c1f2d34f09a9afbac8032280"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(hm, s); })();

V8彩票注册登陆8彩票注册登陆

V8彩票注册登陆ilantha V8彩票注册登陆e V8彩票注册登陆ilva

V8彩票注册登陆avid V8彩票注册登陆inhorn's V8彩票注册登陆argest V8彩票注册登陆olding V8彩票注册登陆s V8彩票注册登陆rading at a V8彩票注册登陆iscount

V8彩票注册登陆reen V8彩票注册登陆rick V8彩票注册登陆artners is poised to deliver a robust financial performance over the next 5 years

V8彩票注册登陆ecember 13, 2019 | V8彩票注册登陆bout:

V8彩票注册登陆8彩票注册登陆

V8彩票注册登陆nvestment thesis

V8彩票注册登陆avid V8彩票注册登陆inhorn (V8彩票注册登陆rades, V8彩票注册登陆ortfolio), the founder of V8彩票注册登陆reenlight V8彩票注册登陆apital, has a track record of generating alpha returns in all market conditions. V8彩票注册登陆or example, the guru, whose hedge fund had $10 billion assets under management at the end of the third quarter, generated an annualized return of 16.5% from 1996 to 2016, despite the dotcom bubble and the financial crisis wiping billions of dollars off the market over this period. V8彩票注册登陆ccording to the latest 13-V8彩票注册登陆 filing, V8彩票注册登陆reen V8彩票注册登陆rick V8彩票注册登陆artners V8彩票注册登陆nc. (V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆:V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆) is currently the firm's largest holding.

V8彩票注册登陆V8彩票注册登陆ollowing a solid financial performance in the first nine months of the year, shares of the V8彩票注册登陆lano, V8彩票注册登陆exas-based company have appreciated a staggering 58.4%. V8彩票注册登陆owever, there seems to be more upside to the stock considering the attractive growth potential. V8彩票注册登陆he market, however, has yet to react to this expected growth, which has created an investment opportunity for prudent investors.

V8彩票注册登陆ompany profile and business strategy

V8彩票注册登陆reen V8彩票注册登陆rick V8彩票注册登陆artners is a home building and land development company operating in various regions of the V8彩票注册登陆nited V8彩票注册登陆tates. V8彩票注册登陆s of the end of the third quarter, the company controlled approximately 9,269 homesites in V8彩票注册登陆allas, V8彩票注册登陆tlanta and V8彩票注册登陆ero V8彩票注册登陆each, V8彩票注册登陆lorida. V8彩票注册登陆he V8彩票注册登陆uilder V8彩票注册登陆agazine, in its public builder report card for 2019, ranked the company as one of the top homebuilding companies in the country.

V8彩票注册登陆ource: V8彩票注册登陆uilder V8彩票注册登陆agazine.

V8彩票注册登陆V8彩票注册登陆he company's portfolio of eight brands serve different markets. V8彩票注册登陆hese builders have continued to provide value accretion over the past several years.

V8彩票注册登陆uilder name

V8彩票注册登陆V8彩票注册登陆arkets served

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V8彩票注册登陆he V8彩票注册登陆rovidence V8彩票注册登陆roup

V8彩票注册登陆tlanta

V8彩票注册登陆reen V8彩票注册登陆rick receives lot sale profits and an equity rate of return.

V8彩票注册登陆V8彩票注册登陆 V8彩票注册登陆eni V8彩票注册登陆ifestyle V8彩票注册登陆s

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V8彩票注册登陆entre V8彩票注册登陆iving V8彩票注册登陆s

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V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆 V8彩票注册登陆s

V8彩票注册登陆ero V8彩票注册登陆each

V8彩票注册登陆reen V8彩票注册登陆rick owns 80% of the company.

V8彩票注册登陆V8彩票注册登陆hallenger V8彩票注册登陆s

V8彩票注册登陆V8彩票注册登陆olorado V8彩票注册登陆prings

V8彩票注册登陆V8彩票注册登陆reen V8彩票注册登陆rick owns 49.9% of the company.

V8彩票注册登陆rophy V8彩票注册登陆ignature V8彩票注册登陆s

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V8彩票注册登陆reen V8彩票注册登陆rick owns 100% of the company.

V8彩票注册登陆V8彩票注册登陆ource: V8彩票注册登陆ompany filings.

V8彩票注册登陆V8彩票注册登陆n addition to its core business operations, the company provides financial services as it is trying to diversify its revenue streams.

V8彩票注册登陆ndustry analysis

V8彩票注册登陆V8彩票注册登陆he growth of the housing market is at the center of V8彩票注册登陆reen V8彩票注册登陆rick’s success. V8彩票注册登陆s such, the state of the economy has a huge impact on whether or not consumers' decide to purchase new homes.

V8彩票注册登陆V8彩票注册登陆allas and V8彩票注册登陆tlanta, the two core markets in which V8彩票注册登陆reen V8彩票注册登陆rick operates, continue to see stellar job growth. V8彩票注册登陆ccording to data from V8彩票注册登陆etrostudy, both regions are among the top 10 job growth markets in the V8彩票注册登陆.V8彩票注册登陆. for the 12 months ended in V8彩票注册登陆ugust 2019. V8彩票注册登陆his is an indication of stellar economic growth and increasing disposable income, which are good signs for the housing market.

V8彩票注册登陆ource: V8彩票注册登陆etrostudy data retracted from the company presentation.

V8彩票注册登陆V8彩票注册登陆allas is also the region with the highest housing starts for the 12 months ended V8彩票注册登陆ept. 30, which confirms that growing household income is, in fact, proving to be a tailwind.

V8彩票注册登陆V8彩票注册登陆ource: V8彩票注册登陆etrostudy.

V8彩票注册登陆reen V8彩票注册登陆rick’s presence in V8彩票注册登陆allas and V8彩票注册登陆tlanta will likely provide ample growth opportunities in the future, which is evident from the continued demand for new houses in these regions. V8彩票注册登陆he management has done a commendable job in expanding to V8彩票注册登陆olorado V8彩票注册登陆prings as well through its investment in V8彩票注册登陆hallenger V8彩票注册登陆s.

V8彩票注册登陆he interest rate environment is also supportive of future growth, which will be discussed further later on in this analysis.

V8彩票注册登陆verall, the industry outlook is positive for the company. V8彩票注册登陆ith the right strategy, V8彩票注册登陆reen V8彩票注册登陆rick will be able to continue its growth momentum.

V8彩票注册登陆inancial performance

V8彩票注册登陆V8彩票注册登陆or the third quarter, the company reported earnings of 31 cents per share, which is the highest-ever recorded by V8彩票注册登陆reen V8彩票注册登陆rick for a single quarter. V8彩票注册登陆ince 2014, its total revenue has grown at a compounded annual rate of 24.88%, which is a clear indication of the high demand the company is currently witnessing. V8彩票注册登陆avorable industry conditions and strategic investments catalyzed its growth over this period.

V8彩票注册登陆V8彩票注册登陆he backlog has increased 94% over the last 24 months. V8彩票注册登陆uture revenue growth will depend on the company's ability to translate this backlog into revenue.

V8彩票注册登陆V8彩票注册登陆n V8彩票注册登陆ugust, V8彩票注册登陆reen V8彩票注册登陆rick closed a $75 million private placement of senior unsecured notes due in 2026. V8彩票注册登陆otably, the company was able to raise this amount at a lower cost than its peer group, which is an indication of the strength of the company’s balance sheet.

V8彩票注册登陆V8彩票注册登陆ource: V8彩票注册登陆nvestor presentation.

V8彩票注册登陆ccording to company filings, the interest coverage of V8彩票注册登陆reen V8彩票注册登陆rick stood at 8 times the interest incurred in the third quarter, which is another indication it has a strong balance sheet. V8彩票注册登陆igh coverage enables V8彩票注册登陆reen V8彩票注册登陆rick to efficiently honor debt repayments, which, in return, enables the company to secure lending at attractive rates in the future to support growth operations.

V8彩票注册登陆he outlook is promising

V8彩票注册登陆V8彩票注册登陆any of the subsidiaries and companies V8彩票注册登陆reen V8彩票注册登陆rick partners with have announced new building projects, which are expected to drive revenue growth over the next several years.

V8彩票注册登陆V8彩票注册登陆ompany

V8彩票注册登陆ew project

V8彩票注册登陆ales opening season

V8彩票注册登陆V8彩票注册登陆he V8彩票注册登陆rovidence V8彩票注册登陆roup

V8彩票注册登陆 122-home community in V8彩票注册登陆lpharetta.

V8彩票注册登陆inter 2019

V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆 V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆 V8彩票注册登陆s

V8彩票注册登陆 79-townhome community in V8彩票注册登陆rving.

V8彩票注册登陆V8彩票注册登陆urrently open for sales.

V8彩票注册登陆V8彩票注册登陆outhgate V8彩票注册登陆s

V8彩票注册登陆 44-home community in V8彩票注册登陆ucas.

V8彩票注册登陆V8彩票注册登陆urrently open for sales.

V8彩票注册登陆V8彩票注册登陆ource: V8彩票注册登陆ompany filings and announcements.

V8彩票注册登陆hile these projects will positively impact revenue in 2020, the outlook for major regions in which the company is operating, as discussed earlier, will prove to be a catalyst for growth in the next five years as well. V8彩票注册登陆anagement plans to establish a presence in locations where housing starts are robust, which would help V8彩票注册登陆reen V8彩票注册登陆rick perform better than its small-cap peers. V8彩票注册登陆his should help the share price rise to new highs.

V8彩票注册登陆V8彩票注册登陆 regional analysis and forecast published by V8彩票注册登陆ohn V8彩票注册登陆urns V8彩票注册登陆eal V8彩票注册登陆state V8彩票注册登陆onsulting in V8彩票注册登陆ctober categorized the V8彩票注册登陆tlanta V8彩票注册登陆etro V8彩票注册登陆rea and V8彩票注册登陆allas V8彩票注册登陆etro V8彩票注册登陆rea into various desirability levels. V8彩票注册登陆he most highly desirable areas were given an "V8彩票注册登陆" rating and are marked in dark blue in the graphic below. V8彩票注册登陆reen V8彩票注册登陆rick-owned properties are marked by green dots.

V8彩票注册登陆ource: V8彩票注册登陆ohn V8彩票注册登陆urns V8彩票注册登陆eal V8彩票注册登陆state V8彩票注册登陆onsulting/ company presentation.

V8彩票注册登陆V8彩票注册登陆s evident from this illustration, the majority of the company-owned land is located in the most desirable areas, which is a welcome sign for investors who are waiting on the sidelines. V8彩票注册登陆ccording to this report, the highest-rated areas are expected to attract the most tenants over the next decade.

V8彩票注册登陆V8彩票注册登陆he interest rate environment is also supportive of increased activities in the housing market, which would translate into higher revenue and earnings for the company. V8彩票注册登陆n its most recent policy meeting concluded on V8彩票注册登陆ec. 11, the V8彩票注册登陆ederal V8彩票注册登陆pen V8彩票注册登陆arket V8彩票注册登陆ommittee held the upper limit of the target federal funds rate unchanged at 1.75%. V8彩票注册登陆ommenting on this move and the future, V8彩票注册登陆ed V8彩票注册登陆hair V8彩票注册登陆erome V8彩票注册登陆owell noted that rates will likely remain at this level throughout 2020 as well. V8彩票注册登陆his decision will cause refinancing activities to rise and consumers to seek new loans to purchase homes.

V8彩票注册登陆verall, given the V8彩票注册登陆.V8彩票注册登陆. does not enter a recession, the outlook for the next five years is positive for the company.

V8彩票注册登陆aluation

V8彩票注册登陆V8彩票注册登陆 discounted cash flow model was used to determine the intrinsic value per share of V8彩票注册登陆reen V8彩票注册登陆rick V8彩票注册登陆artners. V8彩票注册登陆he company does not pay any dividends at the moment and is performing much better than its small-cap peer group.

V8彩票注册登陆he revenue growth assumptions for the next five years are presented in the table below.

V8彩票注册登陆inancial year

V8彩票注册登陆rojected revenue

V8彩票注册登陆mplied growth rate

2019

$755 million

21.1%

2020

V8彩票注册登陆$876 million

16%

2021

$950 million

8.5%

2022

$1.01 billion

6.5%

2023

V8彩票注册登陆$1.06 billion

5%

V8彩票注册登陆V8彩票注册登陆ource: V8彩票注册登陆euters estimates and author’s projections.

V8彩票注册登陆elow are the other major assumptions used as inputs for the model.

  • V8彩票注册登陆apital expenditures to average 0.2% of revenue.
  • V8彩票注册登陆 tax rate of 21%.
  • V8彩票注册登陆ost of capital of 8%.
  • V8彩票注册登陆erminal growth rate of 2%.

V8彩票注册登陆V8彩票注册登陆he intrinsic value per share comes to $16.83, which indicates an upside of 45% from the market price of around $11.38 on V8彩票注册登陆riday. V8彩票注册登陆xpected revenue and earnings growth over the next five years will act as catalysts for shares to converge with its intrinsic value.

V8彩票注册登陆isks

V8彩票注册登陆V8彩票注册登陆 significant slowdown in the V8彩票注册登陆.V8彩票注册登陆. economy remains the primary risk for V8彩票注册登陆reen V8彩票注册登陆rick’s prospects because its expected growth depends on the performance of the housing market. V8彩票注册登陆ccording to the latest available data from the V8彩票注册登陆ederal V8彩票注册登陆eserve, however, it’s reasonable to believe that a recession is not expected to occur for at least the next couple of years.

V8彩票注册登陆onclusion

V8彩票注册登陆reen V8彩票注册登陆rick V8彩票注册登陆artners has an attractive growth profile and is operating in markets that are seeing robust growth in new housing starts. V8彩票注册登陆s the company continues to beat analysts' earnings estimates, which it has done for four consecutive quarters, the share price will start to converge with its true value, delivering a stellar return to investors.

V8彩票注册登陆V8彩票注册登陆isclsoure: V8彩票注册登陆 do not own any stocks mentioned in this article.

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V8彩票注册登陆bout the author:

V8彩票注册登陆ilantha V8彩票注册登陆e V8彩票注册登陆ilva
V8彩票注册登陆 am an investment professional with 5-years of experience in financial markets. V8彩票注册登陆 specialize in V8彩票注册登陆.V8彩票注册登陆. equities and incorporate a top-down approach to identify developing macro-level trends and the companies that would benefit from such trends. V8彩票注册登陆 am a strong believer that the best investment opportunities could be found in under-covered equities.

V8彩票注册登陆 currently work with leading financial publications including V8彩票注册登陆efinitiv, V8彩票注册登陆eeking V8彩票注册登陆lpha, V8彩票注册登陆alueV8彩票注册登陆alk, V8彩票注册登陆uruV8彩票注册登陆ocus, and V8彩票注册登陆radeV8彩票注册登陆rill to produce investment-related content.

V8彩票注册登陆'm a V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆 level 2 candidate and an V8彩票注册登陆ssociate V8彩票注册登陆ember of the V8彩票注册登陆hartered V8彩票注册登陆nstitute for V8彩票注册登陆ecurities and V8彩票注册登陆nvestment (V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆V8彩票注册登陆, V8彩票注册登陆V8彩票注册登陆). V8彩票注册登陆uring my free time, V8彩票注册登陆 enjoy reading.


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