The back -
end ratio reflects the mortgage payment plus all debt.
Not exact matches
Because their balance sheet doesn't
reflect an accurate balance to stock
ratio (in other words: they will
end up trying to sell more shares than their account balance can pay for, should they go under).
But overall, considering the improved investor sentiment & likely near - term news / profits from its Iverson Road development, a 1.0 Price / Book
ratio now seems appropriate (based on adjusted equity, to
reflect the post year -
end write - back of non-recourse Dunbar Assets loans):