Waiting for the market to realize the value in PICO Holdings (PICO)
is not unlike waiting for paint to dry. The shares are up all of 9% in
the past 12 months, though the six-month performance (up 11%) is a
little better. Part of the problem is that so much of the company's
asset base rests on a stronger housing market in the
Western/Southwestern U.S., and that just hasn't materialized yet. While I
would suggest investors who want to own holding company-type
investments should certainly consider names like Brookfield Infrastructure (BIP) or Macquarie Infrastructure (MIC), PICO does have some appeal for those investors particularly interested in playing a Western/Southwestern housing recovery.
Follow this link to continue:
Some Of PICO Holdings' Value Finally Peeking Through
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