I bought GSL (8k shares @ 1.78) in Feb. on management's promise that the dividend was secure (.10). Lo and behold 10 days later they announced they were suspending the divvy to pay down debt. Well, the shares tanked of course, to a low of 1.10 in early March but I decided to hold because they were earning money. About 10 days ago it began to rally and hasn't been down a day since (today's not over yet). They reported earnings this week which were pretty good so it's direction is positive. I think the dividend will be reinstated within the next 2Q. JMHO of course but glad I held on.
bear, trading in NRZ has been irrational since it was spun off. We know it's the best of the servicers but it has been tainted by association with the others that have come under scrutiny for improper business practices (OCN, HLSS, WAC, even NSM). As I've stated before, I'm in it for the fairly secure and growing dividends with share price appreciation secondary (for me). My cost basis is very low so the dips and sell offs really don't bother me as much as others that are in it near the current price. Average volume has almost doubled since they increased the dividend from .38 to .45 a little over a year ago. I don't agree that we're fighting big sell orders from funds. Average volume recently hasn't been out of the ordinary, save 2 days last week and the share price went up on one and down on the other. It's useless to try to rationalize the stocks movement without better knowledge of who's holding and who's selling. Remember, for every big sell someone wants those shares. As you, JMPO.
freddy, my 2 cents: I own SFL long term and it covers most of the categories of the shippers, owning some bulkers, tankers and oil service seaborne. It also owns 28% of FRO's shares and adds FRO's dividends to it's own earnings. Not too familiar with DHT or NAP. GMLP as noted on another board has the advantage of dropdowns from GLNG to grow assets and distributions but GLNG took a steep drop today on some news that I haven't digested yet. Other than a world war can't see much downside to the tanker business. Many of these companies operate outside of the middle east where a blockade could cause problems. Also take a look at AMID, not seaborne but a solid midstream MLP. Just cut their dist a bit but still yields over 13% and reaffirmed it's coverage last week. Big move up since last week but think it could easily get to the 20's. All of course JMHO.
LOL. After NRZ's recent nice run some profit taking was expected. Most of my REITs were down yesterday anyway. It looked sector wide. My LNG and shipping plays have been flying since beginning of April. DLNG, GLOP, and now GSL en fuego.
daniel: Not knowing where you're getting your figures from remember, most sites show eps as trailing twelve months (ttm) so they're always incorrect. You can always take mrq (most recent quarter) and project that out for the full year and get $2.08. That looks even better :~)
Vin, you and me both. Just saw my rear neighbor this morning who sold his house within 2 weeks, in a bidding war. Prices are rising in my area fast with mortgage rates still so low. The new owner has a friend looking in the neighborhood and I asked my wife if she'd like to move to FL, which I love. Same reasons as you but my grandchildren are getting older and we see them lots less than before (12,14). I still can't convince my wife to even contemplate moving (for now)
Very possible criquet but it doesn't appear on the NLS trading screen either at the close or after hours, so it's obviously a pre-arranged trade. docpvh is betting on a short sale to cover but that's just a guess. Could be any fund selling some shares but remember, someone also bought those shares :~).
4/18 volume ... 2.9 million shares
4/19 volume....1.93 million shares
4/20 volume....1.45 million shares (3:49).
Doesn't look like it's trending up from yesterday
doc, Just nitpicking LOL. You DO KNOW Yahoo double counts every trade for volume, one buy and one sell, even though it's only one trade.
Volume increasing? I want some of what you guys are drinking or smoking. Today's volume 671,000, a far cry from normal and absolutely nothing there to imply any shorts are covering.
Nowadays the question is how much of a discount to B.V. is a REIT trading, as it's very rare to find one at, or at a premium to B.V.. NRZ has been trading at about a 10% discount for quite a while and it's one of the lowest discounts in the sector.. There aren't too many REITs that are comparable to NRZ and their assets but some that have been compared in the past were TWO,, NSM and IVR all currently trading at more than a 20% discount to B.V. WAC, another competitor has a B.V. of 21.73, trading at 8.26. All these figures are from Yahee so take them for what they're worth. NRZ is currently trading AT B.V.
No one really knows yet how much the deal will add to B/V. Just some educated guesses.
LOL. That should only happen. We DON"T want NRZ to trade at a 15+% yield. The lower the yield the lower the perceived risk and the higher the share price will go. They could have raised the divvy last quarter but elected to stand pat. Smart money thinks we'll have at least 1 dividend increase this year, maybe 2.
KNOP had a significant jump yesterday (7.5%) on no news other than the oil sector. It is continuing that today, albeit a bit slower, BUT, and a big BUT, the entire oil sector is jumping, especially the connected seaborne stocks (SFL, DLNG, KNOP). I bought KNOP in the middle of Feb, 1/2 position, hoping to add the balance on any pullback. Guess what, it hasn't happened.. I've always been guilty of chasing but right now I'm just going along for the ride. My DLNG is up about 47% in the last 10 days.