If I purchase the prefer A, then since A and C carry the same interest rate, in this case, it does subject the wash sale.
I just checked my accountant. They are different class of prefered, so no wash sale is involved in this case.
How do you adjust the new base with different interest rate?
I hold both NRF and NRF prefered C. Have 5000 prefered C. In my case, I sold my prefered C last Friday to claim some tax loss, I paid around $25, at the same time, I bought 5000 shares of prefered B.
Something to do with the tax selling, really no fundamental reason for the prefered to yield at 9.2%.
the interest pay ment is about 50 million us dollar a year. Folks on this board claimed XIN could borrow 70% of the land value from Chinese banks.
Also, in china, the housing is prepaid, so why do they need 500 million US dollar in additiona 600 million cash on the balance sheet?
can only maintain 30% gross profit margin. How can they make money if they borrow at 13% interest rate is just way beyond my comprehension.
SO far this year, they borrow 400 million and do equity offering for another 100 million.
It appeared that chinese banks do't want to lend any money to them.
Correct me if I am wrong, most of their ships are not lock in the long term contract like other ships. So they should beneift the most from the upswing..
this should support supramax rate. At the current supramax rate, EGLE should have a positive 20 million cash flow a quarter. Of course, they won't get all these benefit. Anyone, this quarter, the results should improve marktable compare with last quarter and next quarter should be even better.
Your argument is true. But nothing wrong for using the average in this case. They raised 400 Million dollar in August, should they invested the money, You will get a payout ration small then 75%:).
Sentiment: Strong Buy
The book value is at 11, basically all tangiable. They had IPO at 14 all they claimed to be very profitable since IPO, so why make you think the stock is only worth 5.50. What is the return for their land purchase ?
Chinese real estate had huge boom over the last several years, XIN should make lots of money during this time.
Then how much they returned to share holders, you could argue the 30 million buy back and 30 million dividend during the last several years, also don't forget
they raised over 200 million from the us share holders in the IPO at 14, also, they raise again 140 million senior debt at 14% this year and another 100 million equity at under $6 this year, so net, net they took out more money then they paid even if we forget about the ipo. It looks like a scam for me.
So we care how much money they are going to make, investors so far have not seen a dime from the profit. At least they should return the money they raised from US investors.
The spent billion of dollars to buy back their shares, What happen?
They issue more shares despite the buy back.