Cogdell Spencer, Inc. (NYSE:CSA)

CAPS Rating: 5 out of 5

A fully-integrated, self-administered and self-managed real estate investment trust that invests in specialty office buildings for the medical profession, including medical offices, ambulatory surgery and diagnostic centers.

Recs

5
Player Avatar dymaxian (86.36) Submitted: 1/24/2008 10:08:31 AM : Outperform Start Price: $11.20 CSA Score: -115.76

This company has just merged with my employer- Marshall Erdman and Associates- so this may be just me rooting for my own team. But consider this:

-The stock price is beaten up because this is a real estate company. But their focus is on medical care facilities and properties, and everyone is sure the health care industry is having no trouble at all.

-CSA and MEA have had a respectful competition going on for some time, but while they have had to hire out architects and builders, we've had to bring in developers. There is almost no overlap in our long-term customers; so now they'll be sharing all their architecture leads with us, and we'll be sharing all our facility management leads with them. This is a huge opportunity all of us.

-MEA has been growing by leaps and bounds on it's own, and has been the preferred designer and builder by almost every medical group and association we've worked with. Throwing our weight behind CSA will let us provide an almost complete facilities solution- from advanced master planning and design through construction and into facility management. There aren't any other companies like this out there.

If we were focused on another market besides health care, this wouldn't be such an opportunity. But considering the growth that the health care industry is going to be facing in the next few years, this is unmatched.

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