I plan to continue holding this stock despite the recent drop for the following reasons- AFFO up 19% last quarter, safe dividend, almost all leases renewed for this year and 1/3 already renewed for 2015, NAV close to $34. , 98.9% occupancy and a strong pipeline of potential acquisitions. I don't follow currencies closely, but weakness in the Canadian dollar ( compared to U.S. dollar ) may affect share price negatively.
I share your sentiments. For years each earnings call is accompanied by an excuse for the poor results and by an optimistic outlook that never comes to fruition. Apparently the new management is continuing this pattern. My only hope for shareholders is that Southern Cross will buy the 15% of the co. they don't already own for $4.00 per share.
I totally agree with your (alan74z) view of the company . I do believe that the financials are accurate and that the cash does exist. With U.S. companies I've always received a response to shareholder queries; GURE is totally unresponsive to my queries. While management implies that the cash accumulation will be used for acquisitions to grow the company, nothing has been forthcoming.
The very positive third quarter results should shine some light on this under-followed stock. I've never seen a stock with a smaller trading volumes . Yet if management continues to produce strong results, shareholders should benefit from the generous yield plus price appreciation.
Earlier this year co. authorized a $30M share repurchase; but I've seen nothing since regarding actual share buyback. As a long-term FLY shareholder, I would like to see the co. aggressively buy back shares.
I have been a long-term investor in both AYR & FLY. While I also puzzle at why FLY is lagging, I find no reason to account for this. Good earnings, a reliable dividend, high utilization, no significant debt maturities until 2018, a good track record of selling older planes, low leverage, long term leases on all recent acquisitions and a share price well below NAV give me confidence that FLY is under-valued. I would not hesitate to add at the current price.
While the price drop in recent months is worrisome, MCC has a lot going for it - sizable dividend which appears to be safe, selling below NAV, issued new shares above NAV ( unlike other BDCs), excellent q3 results. So I plan to hold, possibly add shares.
Unfortunately I am unable to pick up today's earnings call. If anyone listened, I would appreciate your comments and thoughts. I thought that the earnings announcement was positive; but this morning's drop in share price makes me wonder.
The Seeking Alpha article not withstanding, PSEC has a lot going for it - CEO has bought 400K shares since June at $10.30 average; 0.1% of total assets on non-accrual; senior management has never sold a share; sizable discount to NAV; over $2B in new originations in 2014 ; corporate rating BBB. Current dividend for at least three months. For me, these positives should outweigh the possibility of a small (10%) dividend cut speculated on by PSEC detractors.
Having owned FLY shares on & off for several years, each time profitably, I'm at a loss to explain the recent sharp decline. For example, today AYR & AL are up, FLY is down. All planes leased; only 4 % of revenue from Middle East & Africa ; should have 15% revenue growth this year ; low leverage ; no significant debt maturities until 2018; and a safe 8% dividend. Any thoughts ?
Despite the negative headline , the video accompanying The Street article featured an experienced financial writer who was bullish on Ensco since it trades at a single digit multiple, has a good dividend and long-term growth potential. Check out the video.
As a "suffering" long, I am well aware of the market negativism on offshore drillers. In recent (Sept. 30 ) presentation, NE stated that the $1.50 dividend is " very sustainable." There is a current repurchase authorization of up to 7M share ; and co. will "look at significantly increasing this amount." With 70% of 2015 days already contracted, and with dramatic drop in CAPEX for 2015, I intend to continue holding .
While receiving a response from the co. to a shareholder inquiry may be a good sign ( I've never received a response ), I agree with your assessment is quite accurate. The co. has had a sizable accumulation of cash and several years to grow the co. by acquisition. The old adage " Put up or shut up " may apply. I am not optimistic that management will follow through on their vision; but I'll continue to hold since the share price is too low to make selling worthwhile.
As an investor with positions in a number of Business Development Companies, I have just become aware of Capital Southwest Corp. The current share price ( $36.60) is well below the NAV of $51.17 ( as of 6/30/14 ), ; most BDCs trade within 5-10% above or below the NAV. Would appreciate someone familiar with CSWC offering an explanation for this discrepancy.