Portnoys are horrible managers. My hope is that we get new board, internalize management - which is get rid of RMR, do not sell poor properties - lease them out and get some cash flow, this will be better than a fire sale..
Stock will be $50 in 3 years with good dividend.
It has been a few years, but these royalty trusts have depletion calculations when you are doing taxes. I really doubt that PER or any of the others are completely taxable. The one I did was prudoe bay.. seems like 40% of it was depletion... and that one had been around a while. You might want to check your tax calculations or get another tax guy. I am a tax guy, but no new clients, have too many now.
Thanks for info on PER and others, I have been waiting patiently.. think a good entry point is coming up soon.
Interesting.. different reporting method. Just to confirm, the royalty income and interest amount was more than equal to or less than the actual cash paid out??? It would have to be .. Less on K1 than actual cash.. something must be return of assets in the ground or you would end up with a total capital loss when done.
So we have this div coming up on 29th. Curious if anyone has any solid info on how many shares DRIP, dividend re invest? I am dripping all mine, sure hope FTR stays below 4 at month end. Guess I will get 2.5% more shares in a week or so.
Kinda surprised shorts have not declined, must be tough to pay out the dividend. I looked once, seemed like short piled in around 7 (from memory) so they have still made money but their gains must be decreasing with every passing dividend.
I would tend to agree. We may wander around here for a bit, but doubt that FTR will ever see below 4 after we bounce up. Get some while you can.
Why pay off bonds with debt and have no bonds due for the next 2 years?? Does not make sense. Some have posted that it means management expects poor performance and thus does not want to have to pay cash out..
I don't agree.. think they will perform adequately, slow loss of customers, have decent cash flow and pay dividend..
So why pile up cash for 2+ years then pay off debt.. I think they will try to acquire other rural telecoms, maybe small ones or maybe some bigger ones but with a good chunk of cash in this segment they could get some good deals. Just an idea..
I would have preferred them to just save the cash and pay off debt as it matures. This refi and loss on refi is poor decision.
I guess that is one way to get your debt to ebitda down, buy ebitda with cash (at a good deal) then your ratio will decline.. we shall see if Fitch likes this one, or we still be BB negative.
Ameritrade drip today tuesday at 3.93. funny seems like all these brokers have different drip policies. Good one time and less favorable others.
Can you give a little info.. what is going on. Thought all was shut down for winter... was he working before and now left. What was excavator doing?
Thanks.. either something is going on or shareholders are just dumping the stock due to long odds of mine production. I am guessing just exhaustion of shareholders with commodities declining. why hold a company that is not even producing.. makes production even less likely. We shall see.
Do you know what the price of cobalt is or recent changes are?
I thought the mine was already shut down as they finished some items before winter, and in the "just waiting" for final financing stage.. which I certainly hope does come through.
North Dakota does seem to be attracting a lot of people as there are jobs there.
FTR.. longer view..
Most likely they were decent run and OK priced a few years ago.
They overpaid for VZ assets and thus price dropped and div cut.
They are working thru the purchase and will recover at around 6 to 8 with increase in div in 3 years time or so to .60 ish.
If drop below 4 they are reasonable good buy.
Time will tell but I am holding with average around 3.80.
Well Shortburner it looks like it is only you and I on this board. From the drop in stock price.. BK is certainly a possible... just looked at last q financials, not much there.. cash is low.. I think they have the summer to find the partner or investor to get this project running as debt and LOC up for renewal in Sept or Oct, somewhere around there.
Do you know more?
Cobalt is cheap at $12 a lb, but still profitable for partner-investor. I guess if I had the $70 mil to complete the project, probably could just buy out all the shareholders too as market cap is less than $10mil.
My guess is still just shareholders dumping as company has shown no progress and commodities are weak, so sell you losers and that attitude snowballs.
Well aboard.. I am surprised too. No news is interpreted as bad news.. It would be nice to know how discussions are going in regards to final financing. If I believed in government aid, I would propose that Obama administration fund this project as a strategic metal.
All insight or news is welcome.
It is not looking good. Guess no prospects for financing .. especially with lower metal prices. So, put project on hold and see if company can survive for a while with a very long shot at getting it up and going at a later date and hopefully better conditions.. Very long shot though.
posted during CC, I agree.. flat to up slightly.. doubt FTR will go below 4 possibly ever again. 10% div on stable outlook is pretty good these days.
She does have a way of making it seem like a turnaround is just next quarter. I will still stick with the following.. nothing major coming either way, range bound 4 to 5 for next year, just sit back and collect the dividend. ftr will slowly progress as they can provide broadband cheaper than cable as they said expect 25% share to slowly increase to 40% share, perhaps 4 years, people will slowly switch with the cheaper offering and ftr will stay in business. nothing spectacular but decent dividend. I would not be surprised to see a purchase of another small network for cheap by year end or so... we shall see.
I agree that they most likely won't redeem bonds for a few years. BUT I can't understand why they redeemed bonds recently at a loss as above par and used-issued bonds with a higher %. We shall see the loss reported this next quarter of about $90mil for this poor management decision along with higher interest than needed for the next few years.
Overall, FTR is stable and paying a dividend, so I would hold and drip for now. agree.