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PennantPark Investment Corporat Message Board

  • jadelover8888 jadelover8888 Jan 19, 2010 11:52 AM Flag

    Prescient?

     

    I predicted PNNT would reach $ 10.00 by the end of this month. Today it reached as high as $ 9.85 and it may reach $ 10 by the end of this month. If the conference result to be held on Feb. 4 is favorable, I am afraid this may be the last time you will see PNNT below $10 price unless there will be a overall stock market crash.

    Incidentally, HTGC had gone up from the previous Friday (1/15) close to as high as $ 11.21 today. This is one of the stocks I had recommended in my other message.

    Another preferred stock that currently provides a 11.1% annual yield is RLH-PA (preferred stock issued by Red Lion Hotel) if you can acquire them at $ 21 or less. Right now it was at $ 21.40. While it does not have any rating, however from past experience, RLH owns a lot of 3* hotels and they are very nice hotels and when economy picks up, their profit will pick up. I do not believe they would have troubles in maintaining this preferred's dividend. Also, they had already recalled 50% of this stock and therefore when economic condition recovers, it is very likely that they will recall this stock at $ 25 a share rather than continues in paying an interest rate of between 9.5 - 11%. Therefore, if it can be bought at $21 or below, there is a lot of upside potential.

    Have fun!

    B

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