Seeking Alpha

Hovnanian (HOV +10.5%) jumps after announcing a land banking arrangement worth up to $125M with...

Hovnanian (HOV +10.5%) jumps after announcing a land banking arrangement worth up to $125M with Blackstone's (BX) GSO Capital arm. GSO will buy land parcels from Hovnanian, and option finished lots back to the company. In addition, GSO has agreed to exchange $15M worth of Hovnanian senior notes for 3.86M Class A shares. (PR)
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Comments (3)
  • sensible
    , contributor
    Comments (9) | Send Message
     
    HOV shares are a call option on the company's survival, the company's survival is a call option on a recovery taking shape, as it should, six long years into the downturn... and all are playing out. Get in.
    13 Jul 2012, 10:30 AM Reply Like
  • sensible
    , contributor
    Comments (9) | Send Message
     
    Get into HHC, as well.
    13 Jul 2012, 10:31 AM Reply Like
  • sensible
    , contributor
    Comments (9) | Send Message
     
    So let's revisit...
    Get into HOV. While the quarter NI was driven by some non-cash noise, it easily has $1/sh earning power at the current activity level, which is conservatively worth $6-$8 in the short-term.

     

    Get into HHC... 1st public presentation ever at JMP conference (on web site)... should trade at MASSIVE premium to book.

     

    Get into AVHI, too, particularly if you think you're late on HOV. AZ homebuilding, strong balance sheet, backlog ramping up and no coverage.

     

    QE3 is like a blowtorch for these names (in a good way).
    16 Sep 2012, 09:05 PM Reply Like
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