Poetic Portfolios

Yesterday I wrote about the sale of WebMediaBrand’s internet.com division. If investors were hoping for some clarity regarding the company’s revenues and earnings from today’s earnings announcement, then they were disappointed. (more…)

On Monday, the company formerly known as Jupitermedia, WebMediaBrands (NASD: WEBM), announced their agreement to sell their internet.com division to QuinStreet, Inc. for $18 million. For anyone following this story, you know that Jupitermedia sold their images division to Getty images for $96 million earlier this year. I’m left to wonder what’s left.
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I understand that the commercial real estate market looks ugly, especially from a financing perspective. CMBS lending is done. Institutional lenders continue to demand significantly more equity than a couple of years ago, and banks remain mostly in capital preservation mode. This lack of financing plus additional tenant risks has driven up cap rates, which in turn has sent real estate values down. With this understanding, I’m still excited about where shares of Lexington Realty Trust (NYSE: LXP) are today.
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I really haven’t been following Netflix (NASD: NFLX) all that closely for the past year. A little over a year ago, I thought it looked like a bargain. I valued the shares conservatively at $33.75, and a bit more aggressively at $60 per share. After a year has passed, Netflix is outpacing my $60 per share growth scenario, yet remains valued at about $44 per share. So what are shares worth today?
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