I'm long but think the days of fast share price growth of 2012 are behind us. They can only find so many great deals out there for their debt they issue. It cannot always increase. More then likely they will continue to issue more debt but not at enough rates to increase book value.
They havent done an SPO in almost a year and instead have been issuing debt.
Been in it long enough to have a great yield on cost. I'm happy but I don't think its a buy at these levels.
TCAP has plenty of liquidity to make new loans and produce additional revenue and net income. The main issue will be at what rate they deploy that money. But, the dividend should continue to ramp up.
Macro issues are the economy and some of the stuff in Washington producing problems, like default and damage to the world economy. Probably won't happen, but it could.
I think we will see $30/share. This company is the bomb! Been on it for two years, up almost 100% and been collecting that nice dividend. Management is not only extremely smart and conservative, but also they are "good people."