I got the important parts. The important elements are 21 cents paid on 2/15. Hamo is so consistent that once you know the earnings date it is pretty easy to guess the dividend details. Since 11/11 is a bank holiday, real record date is 11/8. With the 8th as record, correct ex date is the 6th, which was stated in press release.
This also is the 7th quarter in a row that I have predicted the dividend amount way in advance.
Unless 2013 cad per share is shockingly north of 1.10, without some kind of advance warning that penny per quarter will end, I expect it to continue throughout 2014......22+23+24+25 = 94 in calendar 2014.
Well, that call went the wrong way so far. Don't know what the market expects from the fed. No taper now and the market reacts like it was taper tomorrow. I don't do well on macro stuff. Not worried about nrf buys because I know sooner or later fundamental growth will win. I'll stick to micro work.
10-yr down 4 basis points and reits still under pressure. Methinks it is chicken over fed statement. If hint of taper soon, reits get creamed. If none or hint at mid 2014, big pop on reits.
Anyway, I just bought another 5,000 at 9.38. Downside limited, imo, because I know 21 cents coming after close and good growth report fri morning. If wrong, I collect at least 94 cents in 2014, which is more than 10% of 9.38. Fine with me as long as Fidelity loans to me at 1.77%, which I expect will continue for another two years or so.
3 days of funk on reits fueled by agnc atrocity. When it ain't your company suffering in the earnings and dividend department, ya gotta take advantage of the broad brush of computer programs throwing the baby out with the bathwater.
He certainly did. It was a very good quarter operationally. Occupancy up nicely, developed lots added, rentals up sales up, noi up......all real good comparing 3Q this year to 3Q last year, even on a per share basis reflecting the addition of northern rv communities.
However, ytd on a per share basis is no whoop-dee-doo.....2.44 vs 2.39.....4Q guidance of .75-.79 when last year 4Q was .80. Annual guidance of 3.19- 3.23 (upper est lowered from 2Q) vs 3.19 last year. Bigger numbers but more shares.
Looks like all we "old" shareholders got out of the growth and stock issuances is a more conservative balance sheet.
Shiffman's response to "when dividend increase" question at CC was MUCH more a hint of increase soon than responses to the same question in all the CCs I've listened to.
Also, Morgan litigation settled in September allowing fix-up capex to proceed, which should increase occupancy for 2014. Also, 2014 should show a bigger impact of the synergies of having northern and southern rv parks.
We can all snooze until the next report as the annuity is more than safe.
Stink of agnc and arr sticking to other reits, especially those with mortgage reit attributed to them, even if they do not do agencies, like nrf. AGNC and ARR results may give a strong hint about NLY, but they mean absolutely nothing to NRF results.
An irrational decrease in a given stock's price is OK with me. I just buy to flip or hold, depending on the case.
Yes, KMP issues a K-1 to all partners, including retirement plans which are tax exempt entities subject only to tax on UBTI in excess of 1,000, the threshold at which a tax return must be filed. Flipping, by definition, is very short term, so it is next to impossible to earn in excess of 1,000 of UBTI.
I got out of bwp a year or so ago because it underperformed relative to most other pipelines I looked at around when I sold. Have not paid attention to bwp since except to look at price which did not do well today.
Pipelines depend on volume which I expect will continue to increase from domestic production whether consumed domestically or exported. In a couple of years exporting LNG should add a big boost to rising domestic gas consumption. I have lots of time and really like the tax deferred distributions which will become tax free distributions upon death when our kids get a step-up in basis at next to no estate tax cost.
Shorts won today. Just too much selling in reit sector. Can't win 'em all. Two more trading days to dividend increase announcement. 1.4 million in 5.5 hrs + 1.2 million in final hour.
It was a whoop-dee-doo refrigerator for the kitchen, wall to wall carpeting and a new deck and we still haven't finished spending the windfall portion.
I suggested here that all consider about 2.50 of the 2.75 a replacement of 10 quarters of 25 cents each for future dividents which would not be paid to fund capex. which will produce higher dividends in the future. Given SCCO's after tax return on average assets, I'm OK with that.
As to the buyback, IMO, there is no limit to Grupo's greed. There is only one reason, imo, that Grupo causes scco to buy back more stock........Grupo thinks it is money well spent to benefit Grupo
PS: Just bought 500 KMP for a distribution flip. It goes ex tomorrow 1.35 which will soon be forgotten.
Be careful with this in a taxable account. It is a partnership, so flipping means tax reporting complications.
Flipping in a retirement account is no sweat.
My 10 worst performers so far today consist of 8 reits and the 2 pipelines I own. I watch a screen of about 25 sector etfs. The worst performers of all these sectors are the 3 reit indexes I watch....vnq, rwr and iyr. Of the 6 pipelines I watch, all are down significantly.
Interest rates have barley budged up today, so actual rates are not the cause. Maybe this computer-driven market is fearful of a fed taper at this week's meeting. IMO, that ain't gunna happen, especially given the drop in contracts to buy houses.
Soooo, being my usual contrarian self, I think a small (1.5% or so) edge can be had by buying these sectors today. Wednesday will be "no taper" when the fed announces, so these sectors should get a little pop since many of the computer programs are similar.
For a hold for rising dividends for as long as Hamo keeps this growth roll going, it makes no difference whether you pay 9.50 or 9.70. IMO, load the boat before the close Wednesday. There has been no release of acquisition news since the 2Q CC.....so no "hints" about 3Q. BUT, from 2Q press release it can be deduced that Hamo had the new offering money committed before the offering announcement. Thus, little or no time lag between issuance and putting proceeds to work. Thus, accretion, not dilution from new issuance.
Lazy, slow market will be surprised with 3Q results on the upside. Makes no difference whether you pay 9.50 to 9.70. IMO, at least 94 cents div for 2014 (vs 78 this year) and price over 12 a year from now. Yeah, yeah, 9.40 or under means 10% yield or higher, but long term this is not important as long as the growth continues.
This week may be last chance for under 10.00.
Wow, that was 81.2% of the 1.36 million volume reported on those 3 exchanges. That's a massive effort by the shorts to keep a lid on the price. Too bad for them the tide is coming in. Despite a flood of short sales the price ticked up 4 cents.
Saw an article yesterday about FTR being the most shorted stock in the S&P 500 using days to cover as the measure. FTR was over 22 days to cover. NRF is over 18 days to cover at the 10/15 read, so it would rank near the top if it were in the index.
Shorts desperately need a big internal negative event. IMO, they ain't gunna get it next week. To the contrary, the dividend will be increased and the 2013 cad per share midpoint will increase. I love watching shorts getting stopped out. It's like a smackdown in reverse.
Those who did buy at 9.40 or under (there were plenty of chances with a 9.39 ask) had an OK week on the buy.
I expect next week will be even better, especially Thursday and Friday. Cover while you can, shorts. I have the feeling next week will be very painful. Better stock up on Preparation H.