PE firms are not valued as per their dividends. These are too unpredictable. If that were the case, what value would have bee estimated last quarter when the dividend was 0.86?
The company is not using any of these funds. Some directors are selling some shares for personal reasonsafter a strong run up. The main two sellers are selling 76M dollars representing 2% of their holdings. The market over reacted. Good time to buy.
Just finished selling MORL and added to my BDCL. mREITS should not do well in a rising rate environment either because of the flattening of the curve,initially, or because of declining BV if/when long rates rise. BDCs ,,on the other hand, should do well because of their Libor based loans.
Yesterday I finished selling my MORL and adding to my BDCL. In an environment of rising rates mREITS should not do well either because of the flattening of the curve (initially) or because rising long rates affects their BVs. BDCLs,on the other hand, should do well because of their Libor linked loans, not unlike banks.