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News Breaks | | | | August 12, 2012 | | 20:15 EDT |  | RDI | Reading International's real estate is worth a bundle, Barron's contends
Cinema owner Reading International's (RDI) owned properties could be worth considerably more than the company's stated book value -- which doesn't reflect years of property-price appreciation, Barron's reports. Capstone Equities, a New York real-estate concern -- and a Reading shareholder -- pegged Reading's value at between $12-$14 a share in a May 15 letter to Reading's board of directors. That's more than double Reading's stated book value of $5.44 a share, and Friday's closing stock price of $5.07. Reference Link | |
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