Seems possible.......others like GIS, HRL, etc. are much larger. GIS is 10 X the size of PF. HRL about 3 X the size. Could easily acquire PF at a nice premium. In the meantime, enjoy the nice yield and growth.
Look at some apartment REITs to see how the apt business is doing.....EQR.....AIV....MAA........AEC......
Not sure how PSEC's return relates to industry cap rates, but PSEC is doing some very creative financing according to the MF story from today.
trader is correct.....tax loss selling can run right up to the close on the 31st.
After 9 straight weeks down......now 3 straight weeks up. The tide has turned with tax losers finishing their selling and good news coming soon.
Here's what I found very impressive.....all from the Nov. 19th earnings report......
Q 2 average daily production was 193 BOE (barrels of oil equivalent) per day
Q3 average daily production was 335 BOE per day (an increase of 73%).
****this is the big number IMHO.....The exit production rate at the end of Q 3 was 560 BOE per day, an increase of 67% compared to Q 3 average production.
I think it's in the area of $25 mil per quarter. They said in the latest 1/4ly report that they'd have about $115 mil at year end (Dec.31) and enough to last into 2015. That could come down a little w/ the failure of the one trial I guess.
Nice rally into the close. Range of 62 cents today. Tax loss selling still going on, or maybe we've seen the last of it. Sometimes it goes right up to the last hour of the 31st, other years in ends in the middle of December. Different for different companies too.
They could liquidate for more than the current price. Dec. 31 cash will be about $2.25. PER SHARE THAT IS.
Are they anticipating that it will be selling under NAV soon(latest NAV 10.72 on Sept. 30, 2013). For it to fall that far we'd need a serious market decline...........OR a cut in the dividend. Of course, the div isn't being currently "earned." Some of your capital is being return to you from accumulated realized gains.
Just look at the earnings estimates and compare them to the amount of the current dividend. Simple math shows that the div isn't currently being "earned."
Since when is NOT earning your dividend NOT a problem? Everyone talks about PSEC's reserve from realized gains. That's capital now. So they're paying part of their div from capital.
That's what FSC WAS doing. They have now fixed that situation. When will PSEC own up to their shortcommings and cut their dividend?
Over $2.25 per share of cash with several products in testing. Will bounce after tax loss sellers give their shares away to bargain hunters.
Bad timing for negative news, right when tax loss selling is already active. Still several active programs. Plus that $115 mil + of cash (about $2.25 per share) is still there.
Higher prices for natgas recently should add some value to those properties.
I nibbled on a bombed out biotech today and bought some AVEO @ 1.84. They'll have $115 million of cash ($2.25 per share) at year end according to their statement in their last report. Burning about $25 mil per 1/4, so enough for more than another year.
AVEO is strictly a short term play for me. Just playing whatever bounce that may come when the tax loss sellers exhaust themselves.
Talked myself into doubling my position. Bought more @ 1.841. I've been in numerous small biotechs over the last 20 years at tax loss selling time. The usual case is that the harder they fall, the more powerfully they bounce. Might take until after the new year arrives, but sometimes the sellers are exhausted before then.
No one rings a bell to let you know, so be ready.
That's from the company as part of the last report. With 51 million shares outstanding, that cash equals $2.25 per share. When the tax loss sellers are exhausted, this stock will recover rapidly.
Just my opinion..........Kel