This Would Be A Good Time Fot Hamo To Announce A New Deal.
The price battle is turning in longs favor. Yesterdays short trading was back up to over 400k and stock still made progress. Even an early announcement of next quarter divi would be enough to move it. Resistance is between 9.44 thru 9.52 then smooth sailing to the upper 9.90 levels! I own it for the dividend, but, it is more fun when it is going up!
I've been waiting for news about investments made with 368 million of new common money since 8/9, the day 40.25 million new shares were issued. We got no details but were told in the 2Q press release that between 7/1 and 8/2 that nrf committed to 778 million of new investments requiring 444 million of equity. That pretty much takes the common offering since funding PE 2 in July used much of the 6/30 unrestricted cash.
I don't think we are going to get a "new investment" press release between now and 3Q earnings which I expect on 11/1. First, it steals the thunder of good 3Q cad and the final estimate of 2013 cad. Also, many companies follow a "quiet period" policy between close to end of quarter and release of earnings even though they are not required to be quiet by sec rules.
Since Hamo is the largest individual shareholder, I just know he would not issue more common unless it was accretive to his units. My only concern was the time lag between issuance of new common and putting the proceeds to work.......the longer the delay, the more dilutive the issue on a weighted average shares outstanding basis. However, once I re-read (and paid attention to) the post 6/30 commitments, those concerns vanished. Hamo had the deals lined up under contract before he issued the shares. We're in for a nice 3Q earnings report. If the shorts can't read the tea leaves, it's their problem.
dar, As usual, your points are well made. IMHO, the company would get a little more momentum for each dividend increase if they would announce them approximately 30 days before 'X'. Take any doubt off the table, give potential longs a little more time to reposition, give shorty more time to sweat. I must admit this has been and continues to be a very nice investment, The other side of this is that Hamo obviously knows more than I do. Why mess with success? Good investing!