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Solar Capital Ltd. Message Board

  • thewisejman thewisejman Jan 7, 2013 10:16 PM Flag

    A good stock

    I have been recommending SLRC to everybody on FSC board for a while now. I bought some at around 21.50 on 11/14, regret did not buy enough. Then when it reached its 12-mo high on 1/3, I sold half of my shares. Now it just announced a SPO and it would be time for me to buy back some, I hope, but I do not believe my limited buy price of 23.75 would be high enough tomorrow. Well, I would be patient waiting though because I believe between mid-February and early March, most stocks will tank. Usually when SLRC tanked, it tanked really really bad, but just for a few days, then it will bounce back. This is one of the few dividend stocks that has been paying its dividend (in this case, 60 cents each quarter) for over two years, I believe. So hopefully everybody would be ready to buy some, at the right price, of course.

    Sentiment: Buy

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    • I think your limited order price of $ 23.75, for an addition, is too risky

      If the economy softens and the Treasury market rallies while the junk
      bond market sells off, SLRC will be available for much less than the
      mid 23s

      Your annual SLRC dividend is only $ 2.40....the stock price of SLRC
      easily could drop by more than your $ 23.75 target.

      In 2013 your NII per share and NAV metrics must all be recalculated
      based on the recent SPO & its dilutive effects

      Will total quarterly NII increase as fast as a drop in NAV per share
      or NII per share ? Not likely, at least in 2013.

      Very interesting to hear in the first of February CC what exactly Michael
      Gross plans to do with the proceeds of this SPO.....will the analysts
      push for a clear answer ? Probably not !

16.47-0.12(-0.72%)Feb 9 4:00 PMEST