Algoma Central (OTC:AGMJF) is a Canadian company involved in shipping and in real estate. The company's primary business is shipping using Canadian flagged vessels on the Great Lakes and St. Lawrence Seaway, but the real estate assets provide an underappreciated source of upside to the company's valuation. The company's shares also trade in Toronto under the ticket ALC, with a most recent price there of $14.15 and a market capitalization of $550 million.
The company came to my attention when I started searching for Canadian public companies with underappreciated real estate businesses. I took the time to make that search after reading how essential a REIT spinoff was to Hudson's Bay Company's recent purchase of Saks (...
Only subscribers can access this article, which is part of the PRO research library covering 3,617 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: