ACSF is so thinly traded i wouldn't read anything into a 1 day move in share price. their NII was 31 cents per share last quarter. i think the dividend will remain at 29 cents this quarter.
dgaines80... management says they covered their dividend for the fiscal year, but that's because their 3rd quarter NII was 42 cents, but they waived intensive fees (to their credit) that quarter, otherwise they wouldn't have covered the dividend that quarter. meanwhile, the other 3 quarters of 2014 they failed to cover the dividend. they were paying out 34 cents per share, while earning 31 cents per share.
the general issue i would have with SCM is that they are small (32 portfolio companies), they're young, and they're not covering their dividend on anything resembling a regular basis. having said that, it is cheap... selling well below NAV.
SCM continues to fail to cover their dividend. they're also quite small. i see no reason to buy SCM at this point, compared to a select group of performing BDCs.
snuau comments were good, but i disagree with the "relatively low risk," comment. the problem so-called "smart money" has with BDCs is that you really have no knowledge of the finances of underlying companies the BDCs are lending to. One thing you do know is regular banks won't lend to the companies the BDCs are lending to. so by nature, BDCs are lending to companies at higher risk of default. NMFC has been very stable, though they stumbled last quarter and their NAV took a hit. this might mean the price right now is elevated because of the pending ex-date, and it might start trading at a sustained lower price range after the ex-date due to the lower NAV.
the other thing about BDCs is that you simply dont get much capital appreciation (it's all being paid out in the dividend), and you're at a much higher risk of a sell off in a down market compared to a large cap stock. it's critical that you keep BDCs as a small % of your portfolio, and be very picky which BDC you buy. NMFC has had a good history, but personally i'd wait until it dropped to roughly NAV before buying.
UBS doesn't think there will be an SPO. have $200MM cash + can sell part of loan book + perm financing from HLSS servicing advances.
rising NAV, special dividend, what's not to like? they also have a huge amount of undistributed income (despite the 90% payout requirement). that amount is only announced once annually... and i don't see it in the press release. perhaps they'll mention it on the cc.
they're in the process of transforming into purely an industrial REIT. so they've been actively selling their office real estate. as a result, they're currently in a transformative stage instead of a growth stage. as noted in their press release: Acquired $203.6 million of industrial assets. Sold $185.1 million of office and retail assets.
ethison... i dont know. yellen is speaking in front of congress, but isnt saying anything definitive about higher rates. and TLT is in the green right now after selling off at the open. so who knows? but it appears the "machines" simply decided to sell all REITs from the get-go this morning. maybe they'll bounce later, but REITs continue to sell off as i type this. RAS is just going along for the ride.
"really needs to close above 124." --utter nonsense. CELG was in the $80s in september. what on earth do you want?? straight to $1000 by 2016??
i tell everyone in the long run CELG is going to make up for every bad decision i've ever made in the stock market.
yep. but the reason i think it's the driving force behind today's sell off is because it has a lot of chatter on twitter. hey, let it go down. i'm a long term holder... i'll gladly take another position if it ever hits $110 again.
the best idea is to keep away from anything with "fifth street" in the name. after 3 years i've learned my lesson.
APO was expected to take a big hit on oil in the last quarter, and that's exactly what happened and APO has done nothing but go down since earnings was announced last week. meanwhile, KKR is expected by analysts to also take a big hit on oil for the quarter too. so it's really interesting to me that KKR has gone up since APO earnings came out.
hard to know how much a of a move it will make. lots of moving parts. hard to believe it could go much lower though. i've learned my lesson with BDCs... buy very few and be extremely picky.