What Forest City Enterprises (NYSE:FCE.A)(NYSE:FCE.B)
is trying to do is not easy, nor is it something that can be completely
quickly. Once a high-leverage property developer, Forest City is
looking to remake itself as a less risky, less leveraged, more
diversified property operator and developer. Forest City has become a
large presence in the hot Brooklyn market and still has opportunities to
sell non-core assets and improve existing operations, not to mention
possibly convert to a REIT structure. There are some reasons for caution
(the Ridge Hill development, perhaps most prominently), but the shares
still look undervalued today.
Read more here:
Forest City Enterprises Still Not Getting Full Credit For Its Transition
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