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BlackBerry Ltd (NASDAQ:BBRY) Selling Canadian real estate holdings

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On Friday, March 21, 2014 the Struggling smartphone maker BlackBerry Ltd (NASDAQ:BBRY) said that it is selling most of its Canadian real estate holdings, and will also lease back some space after the sale.

Company’s buyer was not yet identified, but the Waterloo, Canada-based company details that the deal includes three million square feet of space, as well as vacant land. It was said by the company in an official statement that BlackBerry is set to close the deal in the coming months and it will lease back a portion of the space in the transaction that is still a secret.

The struggling Smartphone maker company create a culture of mobile users glued to smartphones, but unfortunately lost its luster, as many moved to Apple Inc. (NASDAQ:AAPL)’s iPhones or devices using Google Inc. (NASDAQ:GOOG)’s Android software.

BlackBerry Ltd (NASDAQ:BBRY) still has some 70 million subscribers worldwide, but most of its subscribers are using older handsets, and the newer devices on the BlackBerry 10 platform unveiled a year ago but it failed to gain the traction as company expected.

BlackBerry Ltd (NASDAQ:BBRY) shares started to rebound late last year in spite of the record losses, after the announcement that it will outsource its handset production to Taiwan-based Foxconn.
On last trading day BlackBerry Ltd (NASDAQ:BBRY) ended up -1.36% lower to close at $9.42 while trading in the range of $9.36 – $9.71. Its return on assets (ROA) is -6.35% while return on investment (ROI) is -8.45%. BlackBerry Ltd (NASDAQ:BBRY) monthly performance is 4.55%. BBRY belongs to Technology sector with market capitalization of 4.96B and has 15.01% insider ownership. It is -44.00% away from its 52 week high. This Year Company’s Earnings per Share (EPS) growth is -64.95% and next year’s estimated EPS growth is 63.60%. Analysts mean target price for BlackBerry Ltd (NASDAQ:BBRY) is $10.90.

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