Sounds harsh in view of ;recent insider buys (4), double digit jump in dry bulk rates due to double digit jump in Iron Ore exports to China, sharp turn in Met Coal prices in both spot and contract markets....
Great post. They have increased the Dist. every quarter but one over the past 9 years. ..That consistency is the ultimate response.
The interest sensitivity is somewhat reduced by the fact that they raise the Dist every quarter......or at least they have every quarter but one for the past 9 years..!!
In other words while we think that we are intellectually right we probably won't score because they have RAISED THE DIST. EVERY QUARTER BUT ONE FOR THE PAST 9 YEARS........AT LEAST !!
His conclusions are very naïve. Nothing new about Kinder GROUP which have been around and Analyzed for about 25 years...Raised Dist. every Q but one over the last Decade....You want results or a Pissant Analyst opinion !!
Investment Bank upgrade usually means that they are planning to sell Equity...Can't make $$ unless you are part of the deal and only those who have positive (buy) ratings will be included....Doesn't mean it's not a good investment,only that an upgrade often means nothing.