John Ford
Value, special situations, growth at reasonable price, contrarian

UCP, LLC's Lot Portfolio Is Worth 84% Of Its Enterprise Value, Giving Shareholders Homebuilding Exposure At A Discount

Company Description

UCP, LLC (NYSE:UCP) is a hybrid homebuilder and lot developer with operations in California and Washington. CEO/President Dustin Bogue and CFO William La Herran head an impressive management team, each member having a minimum of fifteen years of industry experience. The company began as Union Community Partners, LLC until the conglomerate PICO Holdings (NASDAQ:PICO) purchased it in January 2008. PICO is similar to Leucadia National (NYSE:LUK) in the way it utilizes a value investing strategy to generate returns for shareholders. It was spun off from PICO Holdings last July and has since traded down from its IPO price. The company owns 4,275 lots and controls another 3,656 with options and is monetizing...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details