Re: Central Oregon & Pacific Railroad
Author: Bilo Selhigh
Date: 10-16-2008 - 13:28
Actually, now might be a good time for Fortress to take advantage of the hysteria and buy back some shares.
They've already indicated that they would not have a dividend for Q3, preferring to keep the cash on hand for investment "given the significant dislocations in the world's financial markets" and the "tremendous opportunities for the firm to invest capital and to grow and diversify our business."
Fortress claims $800 million debt, $300 million cash, and $35.1 billion in assets.
Also, its 52-week low stock price is $3.25.