Emu's are aggressive. I visited a small, private zoo near Syndey, AUS a while back, and they had some emu's of course. I was near the fence enclosing the emu's with a half eaten bag of popcorn in my jacket pocket when one of the emu's leaned over the fence, and stuck his head into my jacket pocket so he could eat the popcorn. When the bag fell on the ground, a kangaroo came over, picked up the bag, and began to eat the bag. Hilarious.
Right on, Priviet .... I'm looking for slow and steady improvement over the next 18 months, but the story ends well.
NRZ is a bit of a hybrid, but there is a lot of MREIT in there. I haven't looked to see how much of everything they do, but they probably get looked at as an MREIT. From Yahoo:
"New Residential Investment Corp., a real estate investment trust, focuses on investing in residential mortgage related assets. The company is involved in the direct and indirect investments in excess mortgage servicing rights; and in real estate securities and loans. It also invests in agency residential mortgage back securities (RMBS) and non-agency RMBS."
I think that fractional shares should be less than one share at any given time. So, the amount in question is the dividend on less than one share, or $0.11 or less. I gotta admit, you are counting your pennies.
I don't own NRZ as I wasn't holding NCT at the time, but isn't that an MREIT? If so, then the street's dislike of it has little to do with Wes, all the MREIT's are way down due to interest rates going up.
NCT will do better with the next divy announcement. I think two spins tends to take a little steam out of a stock.
I was just listening to the financial news, and a guy was giving his market picks. He didn't name PSEC, but he did name private equity as being his top sector. These will be the two years in which private equity book profits for a decade he said. PSEC isn't quite private equity, but they do have select equity investments .... it's kinda half way between a bank and private equity. Anyway, sounded pretty good.
I agree, Dar. My core of 40,000 is all pre-dividend, but when the price held up well even post-divy, I went in for another 3,000 shares. It wasn't really my plan, but the devil make me do it.
Hey Click ...
I couldn't fault your conclusion. My bottom-line is: Unless something bad happens either to RSO or the market, I think RSO is at the bottom. As long as they can pay out $0.20 a quarter, I don't think the yield will need to go above 13.5%. If they can do what they say, then it's a big winner.
I think they are in a transition right now, and they are being aided by an environment almost perfect for REIT's. They said that their quarter was hurt by large pre-payments that were unexpected, and a major deal that should've closed in October that didn't close until 12-23. We'll see, but I do think they have the money to invest, and the opportunities in front of them, so it is possible. If the year shows improvement along the way, I'll stay with it.
I am a big fan of PSEC, though, so congrats on that.
I still regard this as a spec stock, but I have increased my initial allocation by about 2X. Still only 5,000 shares. I think the Fortress people are pretty aggressive and selectively opportunistic. Those tend to be good qualities in this business.
Rarely do I read a post containing as much misinformation as your post. Just so others aren't mislead - I think it's too late for you - here's a couple thoughts:
 PSEC does not "pay" 12% dividends. It pays $0.11+ per month; the market adjusts the stock price to a level which results in a yield acceptable to investors. Currently, the market price results in a 12% yield roughly.
 This is not a Ponzi scheme. All of its dividends are paid out of earnings, inception to date.
 If PSEC falls to $6 because of an economic downturn, then all stocks will fall as well. It is not a criticism of PSEC.
 I'm pretty sure that the 15% on loans is not the rate charged [not to most anyway], but the ROE .... not at all the same.
 Loans can increase in value, and do anytime the market interest rates fall.
 They have been truthful about bad loans. If they convert a loan to equity, this is just part of the business of BDC's.
 Avoid buying stocks that give you discomfort, but don't spread misinformation here. No one is forcing you to buy PSEC.
PSEC had about 8% of its shares held by funds which bought the relevant indexes. I think the S&P index funds have already rebalanced as 37,000,000 PSEC shares traded on Friday [month-end]. I don't think the Russell will be a major deal, but need to get past it.
I've been "parking" in PSEC for a good while now even taking cap gains a few times. Good purchase, Click.
Agree. I added 5,000 recently. Hated to add over $15, but I think that will look like a pretty good buy soon enough. Holding 40,000 shares now.
I hold large amounts of both PSEC and RSO. I am just about even at this price for RSO. I believe that management will be able to do as they say which is to continue the $0.20 divy throughout 2014 ... and that's about 13.5%.
I think this is the year they turn the corner, and cover the divy. They have lots of financing available and an almost perfect environment for REIT's ... it's now or never. If they start covering in the 3rd quarter as they forecast, the stock will go to $7.50. With the divy, that's a 40% annual return from here.
Since they are paying the divy, I intend to hold to see what happens.
If you have some dry powder, I would be buying PSEC now. I am one of those that think it will go to 12+ this year, plus the divy, is over 20% for the year if you buy at this price .... and you can sleep at night.
Yes, i read Clickers comment, and a lot of people do trade the monthly cycle in PSEC. The BDC's are down a little right now #$%$&P took them out of their mid-cap index. PSEC has already been reallocated [37 million shares traded on Friday], but the market is a little slow to catch up.
It is worth noting that over 90% of PSEC's debt is fixed rate, while their assets [loans] are largely floating rate. If rates increase, it's good for PSEC. Also, that PSEC is big enough that they can and have acquired other companies completely so that's an equity interest. Not like other BDC's so much. That interview I mentioned goes into a lot of that.
I live in NorCal also ... the mid-peninsula area between Palo Alto and San Mateo.
As for PSEC ... I have owned it for quite a while. Second largest BDC now paying 12% with monthly divies. I like monthly divies. Lots written about them. There is a good Seeking Alpha piece, which just came out, which is an interview with their top dog. I think their management is brilliant, and I look for that. I think they could bump up their historic range to $12 per share or so partially because their current leverage of 0.50 is going to be bumped up to 0.75 [see the interview], and that is going to add quite a bit to their NII.
Nice work, Clicker. Cap gains tend to be lumpy. If I looked at the first quarter only during 2013, then my return for those three months was over 20%. I don't use margin, though, no guts, I guess. I'm a U.S. citizen ... unless you don't consider Calif part of the U.S. which some people on this board might not.