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JAVELIN Mortgage Investment Corp. Message Board

  • johnmcfarlandaz johnmcfarlandaz May 6, 2014 7:28 PM Flag

    Book Value

    If this isn't an error then how did this happen?
    Stockholders' equity as of December 31, 2013 was $171.3 million or $14.28 per Common share outstanding.

    Stockholders' equity as of March 31, 2014 was approximately $160.6 million or $13.38 per Common share outstanding.

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    • Monthly report of May just out today! Another setback in asset balance (more than 10M). The Price / Book is running more than100%, quite unusual.

      Sentiment: Strong Sell

    • That's the million dollar question. It isn't an error, so the question is how did it happen. The same management runs ARR, and the management has managed to produce a lower book value in both ARR and JMI during Q1 when other mREIT's are pulling book value increases in Q1. JMI's management is notorious for poor decision making. I expect a sell-off in the next two weeks, if not before the ex-date then certainly after it, bringing us down to the $12.50 share price range. If we drop there, I'll be a buyer. GLTY.

      If you are a dividend investor, keep your eye on PSEC, BDCL, KCAP, TICC and other Business Development Companies (BDCs) in mid to late June. The share prices should take somewhat of a hit and provide a nice entry for longs. Cheers to you.

 
JMI
7.82-0.70(-8.22%)Mar 27 4:03 PMEDT