If anyone is waiting for a change in tax status back to RIC it won't be in the cards for years to come. Not when the company continues losing operating revenues quarter after quarter as well as taking charges (losses) on operating companies (Ordinary). And it doesn't look like the SP is going to meet NAV for a long time to come. So all anyone can do is dream about getting a Cash Dividend.
Obviously ACAS has some problem companies on the private finance side that weighing on them. Also, they reported 10% non-performing assets (fair value). That has been an increasing percentage for some time now and looks troublesome.
I don't understand how the share repurchases affects ACAS NAV? I know that the reduction of AGNC and MTGE's portfolios affect the management fees and the NAV's of he ACAM subsidiaries.
Unless Malon states that a restructuring and spinoff leading to a dividend for shareholders is going to be announced in the CC, I gotta believe the SP is going down tomorrow. And probably 5% at the minimum. There were many expecting turnaround earnings this past quarter which I believe fueled the runnup prior to the earnings announcement. And it turned out to be another miss and dissappointment.
In regards to the drop in NAV specific to the ACAM subsidiaries, Gary Kain indicated in ANGC's CC that it's NAV had recovered to Sep 30 levels in the current qtr with more positive results in spreads. So if that trend holds up it for the current quarter then it should go a long way to reversing the unrealized depreciation taken this past quarter.
10 Year selling off bigtime and ARR basically limping along. The stock should be up 1 to 2%?
Maybe some big holders got spooked over the today's SA Article on reit's projected BV's for the quarter. But ARR had the best projection of only losing .02 on BV. So go figure.
I can't find any.
Hey iguanaman, how's that Community Organizer doing so far? Sure looks like he's working day and night to redistribute that wealth. Following that Sol Lewinsky Playbook to the tee. So if you like your President you can really keep him the next 3 years.
If there were anywheres close to a 15% increase in BV the SP wouldn't be sitting currently at a 33% discount to BV.