except for the mreits, they can have debt to equity near 10 and beyond and they keep pumping out the dividends.
Wait, sorry, forgot where I was.
VNR retained earnings has taken a beating due to the write down in the asset / impairment. And it would appear that the creditors (and some of the investors on this board) are willing to stick with the company while the commodity prices rebound back.
As soon as we can put to rest the impairment charges we can get retained earnings to go north again.
Management keeps kicking the can down the road. I agree with you. But all (or at least most) mreits have been rallying lately due to Yallen's flighty leadership.
I would not be surprised to see a major dilution before the next earnings announcement.
But it is not like this was unexpected. I may buy in the morning, I have a feeling the street will not be punishing too much. The more I think about it, I will place a buy order at 10 and see where that goes.
yahoo message board messages has some restrictions on special characters, I was trying to include brackets in that last message which were edited out. Live and learn.
That is why a judge has to approve a petition for bankruptcy protection. The protection is from creditors taking away all the pledged assets from the owners on the loan. Also the company has to show that they are insolvent. VNR is not insolvent nor are the creditors ready to take a haircut for no reason other then helping VNR along. Free cash flow can cover debt service right now so I just do not see how BK can be considered.
And as oil remains above 40 and gas above 2, I think we should be ok.
Heck, way back when we received stock bonuses. Not just an option to buy the stock, but actual stock certificates themselves, and I do mean the actual certificate, paper in hand. I stopped working for Block back in 2004
Etrade shows 5 analysts with estimates ranging from -.16 to +.12, that is quiet a large range.
and to think if they just cut back on the common distribution back in 2015 while prices were dropping, this current cash concern would have been mitigated.