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American Capital Agency Corp. Message Board

sme20_98 51 posts  |  Last Activity: Oct 16, 2014 10:09 AM Member since: May 10, 1999
  • this qtr? Haven't they said as much because of asset sales? That is how they covered the dividend going back two years ago. Isn't that the business they are in? Invest in these companies, be paid interest income on our debt/equity investment and if profitable, sell off our debt /equity for a capital gain as was done last month. When PSEC shows .35 to .40 cents of earnings for the qtr next month, this stock goes back to where it belongs trading between 10.50 and 11.50.--JMHO.

    Sentiment: Strong Buy

  • Reply to

    Is this a partnership?

    by mchlr963 Oct 8, 2014 3:20 PM
    sme20_98 sme20_98 Oct 15, 2014 11:34 AM Flag

    Not so much different in that tax benefits are contained on a K-1(partnership or trust) and that K-1 is useless if the investment is in an IRA because of the tax deferral issue--thus the current benefit is lostand generally it is important to the entire parnership/trust investment picture. That's all I was trying to point out.

  • Should be a positive for our book values shouldn't it. Also will give management an opportunity to trade assets at a positive value, thus locking in trading gains on the current portfolio. Only negative is for current income as spreads will shrink. Still is a good opportunity to get the portfolio in order ahead of rate increases next year--even though, IMHO, they won't amount to all that much for years to come in this slow moving economy. Thoughts?

    Sentiment: Strong Buy

  • Great news for book values of MREITS--asset holdings are increasing in value big time as LT yields crash. Will make for some good trading ahead of rising rates next year.

    Sentiment: Strong Buy

  • Reply to

    Is this a partnership?

    by mchlr963 Oct 8, 2014 3:20 PM
    sme20_98 sme20_98 Oct 14, 2014 7:40 AM Flag

    Terrible to buy with IRA funds as you miss all of the tax writeoffs that come with the K-1 schedule--read most financial guys, these partnerships are not recommended for IRA plans.

  • Interest rates since the fed announcement have dropped 8% to 10%. PSEC has stated that a 5% increase in interest rates would add 29 cents per share per year to earnings. An interest rate increase will come, and when it does, PSEC will be a great stock to be holding. In the short term, buy on the dips.

    Sentiment: Buy

  • Reply to

    PSEC reacting to oil prices

    by sme20_98 Oct 10, 2014 1:10 PM
    sme20_98 sme20_98 Oct 10, 2014 1:41 PM Flag

    I don't want to over do the oil and gas statement--its about 4% to 5% of their portfolio holdings--doesn't sound like much , but as big as PSEC is now, 5% matters. Also, wentkerl statement on hedge funds certainly makes sense.

    Sentiment: Buy

  • Reply to

    Notice of Common share buy back from PSEC

    by docpvh Oct 10, 2014 10:26 AM
    sme20_98 sme20_98 Oct 10, 2014 1:27 PM Flag

    I agree with sierra on this one. PSEC is not the type of company you want using their cash to buy back shares--invest in long term business to make us money down the road. I think he put that statement in the letter to stress his opinion that the stock is undervalued in the market. He is better off with the continued support through his personal purchase of shares to show his support for the stock at these prices.

    Sentiment: Buy

  • Reply to

    A STEAL AT THIS PRICE

    by ch3howard Oct 10, 2014 5:03 AM
    sme20_98 sme20_98 Oct 10, 2014 1:14 PM Flag

    Its low was 9.38, back to 9.52, i would say thats a pretty good bounce back

    Sentiment: Buy

  • Thats all this is. PSEC has significant oil investments and oil is currently in a free fall due to strong dollar and supply glut. This will all smooth out over time, as oil supply will be cut and pricing will come back. You can see it in the charts just today--oil started off very poorly this morning taking PSEC down sharply this morning. Oil has rebounded back to unchanged and PSEC has improved right along with it. PSEC already has stated that they will exceed expectations in the third quarter due to asset sales/gains of 11 cents. I know that is a one time event, but thats how these equity BDC's make money --buy low and sell high, and pay the profits to us. Also, ownership is extremely invested in their company, both from a managed perspective and personally. All this is is a great buying opportunity for those of us that got out a month ago when the earnings report left out the dividend statement going forward. Since the sale of assets, PSEC has declared one months dividend and with earnings, I think they will announce the additional two months that had been left out. IMHO no dividend cut at this time. The 11 cents will give them several months of cushion.( if you are short 6 cents per qtr, 11 cents takes you almost 6 months of coverage with the current dividend.)

    Sentiment: Buy

  • Reply to

    Decrease in NYMT makes no sense

    by sme20_98 Oct 10, 2014 9:05 AM
    sme20_98 sme20_98 Oct 10, 2014 10:15 AM Flag

    I guess you are right, actually was a great buying opportunity. Just didn't understand the action when interest rates were falling at the same time. Should have been a big positive for the stock. But overall, not a big deal.

    Sentiment: Strong Buy

  • As of June, 2014, NYMT had increased book value by 50 cents(for the YTD) to 6.83 per share, beat earnings by 11 cents in the most recent qtr and not much has changed in the third qtr to think they haven't performed at least the same. If they beat on earnings again, it almost assures a special dividend of 10 cents or better in December. Not sure why this stock isn't back over 8. Can't wait for earnings to get this stock price back where it belongs.

    Sentiment: Strong Buy

  • Reply to

    Is this a partnership?

    by mchlr963 Oct 8, 2014 3:20 PM
    sme20_98 sme20_98 Oct 8, 2014 3:31 PM Flag

    short answer is yes

    Sentiment: Hold

  • No way this stock would be trading down this much based on the price of WTI of the stronger dollar. Something else at play here--like did some big players get wind of current production numbers?? Just saying, these guys are not shorting, they are out. I guess there will be lawsuits like the other two trusts. Action here has been very disappointing to say the least.

    Sentiment: Hold

  • Not sure why NYMT isn't up with the rest of the REITS today based on 10 year bond yields going down big.

    Sentiment: Strong Buy

  • Reply to

    todays drop

    by jay_money_01862 Sep 25, 2014 9:52 AM
    sme20_98 sme20_98 Oct 7, 2014 8:39 AM Flag

    Discussion of .25 cents and 10 cents was about the special dividend paid in 2011. this qtr was 27 cents--based upon current level of earnings, it is hopeful that another special dividend will be paid this year in Dec. Poster indicated that a special dividend had never been paid which was not true.

    Sentiment: Strong Buy

  • Reply to

    Below 5 in October

    by sjsrhs Oct 6, 2014 5:28 PM
    sme20_98 sme20_98 Oct 7, 2014 8:35 AM Flag

    Thats not going to be the case going forward here--where do you make this #$%$ up from. They are paying out only royalties from earnings after expenses and taxes. It will be the case for the next 17 years. If production doesn't provide distributible income, then none will be distributed, but there is no indication of that at this point other than some of you shorts making stuff up. Have the production levels been as high as originally thought? No. but they are hardly non existent. Current levels are supplying $2.50 plus in dividends and this will slowly taper off, but there is no evidence its going to be zero next year--conversely, at the current rate even with a taper, your entire investment will be back in your hands in less than 5 years, including subordinated share impacts(when they convert to common). this current price is a steal.

    Sentiment: Strong Buy

  • Reply to

    Below 5 in October

    by sjsrhs Oct 6, 2014 5:28 PM
    sme20_98 sme20_98 Oct 7, 2014 8:15 AM Flag

    Man I hope you are right--I will own more than half a million dollars worth and collect 4 times that in dividends--and thats on the conservative side. Please go to 5!--NOT going to happen loser--will be 11 to 12 by end of month dividend announcement, which will be .64 for common holders. A 7% dividend by itself based upon current prices. When you shorts cover in two weeks, this thing will rise 50 cents a day--its just a matter of when the covering begins. For now, you keep selling and i will keep buying.

  • No other reason for it to be dropping like it is. Can't wait unit two weeks from now when dividend buyers will pump this stock back up. No reason to think Common holders won't see full .65 anticipated based upon production last qtr. That single dividend works out to almost 7%. Crazy where this price is. All my cash is in!

    Sentiment: Strong Buy

  • Reply to

    .17 down all of a sudden, why?

    by nonameoilworker Oct 2, 2014 11:07 AM
    sme20_98 sme20_98 Oct 2, 2014 11:11 AM Flag

    Someone unloaded a significant number of shares--over 600,000. Thats what is driving PSEC lower.

    Sentiment: Hold

AGNC
22.66+0.21(+0.94%)Oct 20 4:00 PMEDT

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