I agree with your analysis. But management will torpedo a recovery by cutting the current distribution and selling their own units. I hope that I am wrong, but they have a history of doing both. If they hold the distribution for 3 or 4 quarters the market will gain confidence and bid this up.
This management team has cost investors 100's of millions in lost value.
It might be a good move, but next quarter they will cut the dist.Then more value
down the drain as they dump all their units. Thanks
I think the confusion comes from the tax accounting. If you read the pdf prospectus. It states
a %0.83 management fee. If you keep reading you will find in 2014 they had a combined tax expense and management fee around the %4.65. In 2012 tax was 0 and this year it is negative. So not sure how it affects the dividend?