they must think the broader market is gonna suck if "outperform" means the stock goes lower.
meh. repayments are lumpy quarter to quarter with BDCs. in the 2nd quarter they had $117 million in repayments, while this past quarter they had $89 million in repayments.
i see PSEC cut their dividend today, maybe that caused some kind of ripple effect through the whole BDC space. i think JNK selling off didnt do us any good either. hideous day.
good work! i never even got that far on their somewhat frustrating website. i got as far as the "strategies and focus" page in which they state, "Stellus has two investment focus areas: Private credit and Energy private credit. " that makes your findings in the 10Q even more interesting. they have a focus in energy but only 1 out of 28ish investments are in energy related companies.
some of the BDCs are a disaster right now even though their most recent quarters were okay. i'm buried in MCC and TCRD. and then today for no obvious reason they are absolutely getting hammered. is this algos gone wild? tax loss selling that's triggering margin calls? #$%$? as i type this, SCM is sitting at $12.55.... which seems absurd, but it still doesnt match the massacre of MCC. right now i dont trust any BDC at any price.
thanks for the tip. i think CELG is in the process of making up for every investing mistake i've ever made.
ummm.... i think this counts as a sell-off. closed today at $12.96. SCM has significant exposure to energy, but their website does not quantify it. but it appears it's their single biggest focus. from their website: "( focus on) Upstream, oilfield services, and midstream segments of the energy industry with a focus on upstream." i still have not bought back in, largely because the BDC space has been so bad, and SCM has held up until recently.
back to reality... GLPI has promptly crapped the bed during the 2 days since the upside surprise on the ex-date.
when i see the complete destruction of MCC, with a fully covered dividend, it gives me doubts about FSC, even down here at $8.50. but hey i wish you luck, because i'm stuck with it at $9.68
why buy FSC?? once again they are not covering the dividend. it wont see $9 again for a long long time. unfortunately i'm stuck with it. SCM was a nice buy, at least early in the day when it was under $13.40
i think it's algos gone wild. BDCs across the board being spontaneously smashed. i dont think individual human beings got out of bed today and said, "i'm selling all my #$%$ BDCs today."
i think STAG reaches a sustainable price of $30 in 2016. assuming we get an increase in dividend at the same rate in the next 1 year as the previous year, we're looking at about a $1.44 annual dividend by year end 2105. that would be a 5.3% yield at $27. i think $27 is a good ave target price for 1 year from now. there is also the wild card of increasing interest rates which would temporarily hurt share price.
i think there's a 0% chance they'll raise the dividend. the sustained div coverage from recurring income isnt there. what they might do is pay a small special dividend because they had significant non-recurring income. they'll probably announce the dividend on monday.
thanks. seriously, i did not know how to interpret the language in the press release. my concern was damage to the coverage ratio on the regular dividend.
during the 3rd qrt cc (11/5/14) EOG CEO Bill Thomas said at $40 oil EOG would still have a 10% after tax rate of return.
i assume it's a bad sign they only announced 2 months worth of dividends, simply because they've been div coverage challenged historically. i hope i'm wrong.