Uc Asset Com Stock Price, News & Analysis

UC Asset LP (OTCQB: UCASU) has completed the sale of a 72-acre farmland in Dallas, Texas, for $1.91 million in cash. Originally acquired for about $800,000 in 2016, the land was sold at $1.30 million in 2020 and repurchased in 2021 for $1.35 million. The transaction results in approximately $550,000 in gross profit for UC Asset, which has no debt on the property, ensuring all proceeds will contribute to the company's net profit. The firm aims for a $1 million gross profit in 2023, with ongoing deals projected to bolster performance. With 5.3 million shares outstanding, gross profit allocation may approach $0.20 per share for common shareholders.

UC Asset LP (OTCQB: UCASU) has entered a Memorandum of Understanding (MOU) to acquire a 10,000 square foot cannabis cultivation property in Oklahoma, with a non-cash deal. The company plans to invest $1 million for an additional 5,000 square feet upon closing. The operator, Fire Ranch Farm, will pay monthly rent, yielding a projected 14.4% cash on cash annual return. The acquisition will involve issuing 2.5 million preferred shares convertible to common shares, raising concerns over potential dilution for existing shareholders. But management asserts that increased rental income may offset this. The current facility is engineered for full-cycle cannabis production.

On January 12, 2023, UC Asset LP (OTCQB: UCASU) announced a MOU to acquire a 10,000 square foot cannabis cultivation property in Oklahoma. This non-cash acquisition involves issuing 2.5 million preferred shares, allowing the property owner to retain a rental agreement, with monthly rents yielding a 14.4% annual return. UCASU plans to invest $1 million to expand the facility by an additional 5,000 square feet. The lease is set for 3 years with a 5% rent increase every 24 months. This acquisition marks UCASU's first entry into the cannabis sector, emphasizing long-term growth and strategic investment in Oklahoma.

UC Asset LP (OTCQB: UCASU) aims for over $1 million in gross profit for 2023, marking a 100% increase from previous highs. In prior years, the company reported gross profits of $491,000 in 2021, $103,000 in 2020, and $42,000 in 2019. With two deals expected to close in H1 2023, projected profits range from $600,000 to $800,000. Despite optimism, management warns of potential challenges in net income growth due to non-operating costs. Nonetheless, plans to reduce management payments may improve net margins and allow for increased dividends for shareholders.

UC Asset (OTCQX: UCASU) has secured a building permit from Atlanta to renovate the historic Rufus Rose House, the first permit granted in two decades. The property, built in 1901 and listed on the National Register of Historic Places, will be transformed into a dual-use office and attraction similar to the Empire State Building. The renovation aims to leverage its prime location and potential tourism revenue, estimated at 50-60 million visitors annually. UC Asset also anticipates value from Transfer of Development Rights (TDR), potentially worth $2 million.

UC Asset LP (OTCQX: UCASU) has secured a buyer for a 72-acre farmland in Dallas, Texas, at a sale price of $2.05 million. Initially listed at $2.25 million, the company acquired the property in October 2016 for approximately $800,000, leading to a projected gross profit of about $700,000 from this transaction. The land is free of debt, ensuring that net proceeds will go directly to UC Asset. The company is also pursuing further profitable deals before year-end.

UC Asset LP (OTCQX: UCASU) projects a gross profit of $600,000 to $800,000 from two real estate deals in the second half of 2022. The company has listed a 72-acre land in Dallas and has signed a Memorandum of Understanding (MOU) for another property in downtown Atlanta. Greg Bankston, managing general partner, indicates that the likelihood of closing these deals has significantly increased, with one property having a committed buyer and the other attracting multiple offers. However, he cautions that payment receipt remains uncertain.

In 2021, UC Asset reported a net profit of $0.12 per share, alongside a $0.10 dividend, although it experienced a loss in the first half of 2022.

On October 12, 2022, UC Asset LP (OTCQX: UCASU) announced the completion of its $0.10/share dividend distribution to shareholders as of December 31, 2021. The firm reported a net income of $0.12 per share for 2021, with a projected net equity increase to $0.15 per share. Looking ahead, UC Asset plans to boost profitability by focusing on income-producing properties, including a $50 million exclusive partnership for short-rentals and developing a cannabis property portfolio worth $10-20 million. Management anticipates higher dividends moving forward.

UC Asset LP (OTCQX: UCASU) has listed a 72-acre property in Dallas, Texas, for $2.25 million. The land was purchased back for $1.35 million after a partnership with Puration Inc. ended, where Puration owed UC Asset approximately $1.10 million. Despite the setback, the property represents a 250% increase in value since its acquisition in 2016. UC Asset carries no debt on the property, meaning all proceeds from the sale will benefit the company financially. Interest from potential buyers has already been expressed within days of the listing.