Another earnings report, another recitation by management that they have " accomplished their goals " and positioned the company for future gains. Yet the bottom line is another adjusted net loss. This management knows how to do everything except show a profit. As a long-term, long suffering shareholder, and considering the hugh insider ownership of this stock, I believe that this company should be taken private.
to account for recent price action. It should be read by anyone currently owning or interested in PSEC ( or other BDCs ). Any dips encountered in the next few weeks may represent a buying opportunity.
While predictions are not guarantees , I think it's safe to say that EPS will show an increase each year from 2013 through 2015; that the dividend is safe and well covered; and that ESV compares well in most parameters with its peers ( see February presentation on co. website ). Conclusion- this stock is currently undervalued. I am long the stock.
I completely agree with your analysis . Despite being a disenchanted long, I am unwilling to sell shares of a stock that sells at the equivalent of its cash per share. This fact combined with improving revenues, improving margins and improving earnings would suggest that I should add to my position; but I am wary since we are dealing with a China based company.
While I do not own NRF common stock, the Preferred B shares continue to be a superior income vehicle. With regard to RSO, both the common and preferred shares are worthwhile income producers. In this era of low yielding money markets and bonds, I'm surprised that more investors don't turn to preferred shares.
Regarding HRZN -sells below NAV ($14.95), consistently earns 11 - 15% on loan investments, currently pays 9.7% dividend, had increased pipeline activity in 4th quarter and provides downside protection with a conservative loan to value ration.
I have been a long time holder of SDRL & SFL shares. Both have been excellent vehicles for dividend income. Looking forward, though, SDRL has excellent prospects for increasing EPS in the coming year; while SFL has declining EPS y-o-y . So I have recently added to my SDRL position and lightened my SFL holdings. Your thoughts, Staggman, would be appreciated.
Please disregard my comment above about " a drop in the dividend." The analyst was referring to Solar Capital, not Solar Senior Capital.
Only news I've seen today to account for the drop is a comment in The Wall Street Transcript by a BDC analyst that SUNS performance was held back by " a drop in the dividend." Since the co. has paid a .117 divi monthly for the past year, and .118/ month prior to that, I don't know what drop he referred to. Any ideas aout today's decline would be appreciated.
As a GURE long, I welcome positive news. Yet I have lost confidence in management . Aside from being unresponsive, they have not followed through on share repurchase, a no-brainer when the cash per share is about equal to the share price. Shareholder value does not seem to be on their radar
You are one of the few posters whose advice I value. I am a long-term holder of SDRL & SFL - Your comments are well taken. I also hold TWO -despite its' drop in price, seems worth holding since current price is well below book ( $10.35 ), portfolio is positioned to protect BV, sizable share repurchase (23M remain as of early Nov.) and has a maintainable 10% dividend. Your thoughts please.
Based on what I heard at at Nov. 5 earnings call and at most recent presentation (Nov. 1 ), the dividend appears sustainable. They have paid .27 for past seven quarters.
In April, 2013, co. authorized a $2M stock repurchase. Yet I've seen nothing to indicate that this was implemented; and had no response in this regard from the co. It would seem to be a no-brainer considering that the cash / share is close to the current share price; and that the book value is over $7 /share. This confirms management's lack of interest in its' shareholders. Does anyone have any info on the repurchase ?
An excellent presentation that confirmed anticipated strong earnings and cash flow, sizable backlog, higher day rates, longer contracts , likely dividend increase and positive aspects of the upcoming spinoff. My one concern is that debt/cap will remain at high end of range through 2014. Your thoughts would be appreciated.
Adj.FFO = .24 for 3rd quarter; .61 for 9 months. Confirmed that co. will pay .20 quarterly dividend through 2014. Originations in the commercial real estate business are way up; sharp decline in revenue and profit from syndicated loan business. Very conservative leverage of 1.8 My conclusion - a worthwhile pick for an income portfolio.
Staggman -I always appreciate your insightful comments ( a rarity on message boards ) .Correction- When HRZN paid .45 it was a quarterly dividend, not monthly . The current 11.5 cents monthly, or 34.5 quarterly, does represent a decline ; but still provides a generous dividend. I continue to hold HRZN since it sells below its NAV of $14.95 ; earnings cover the dividend; average yield on investment is 14%; 92% of borrowing is fixed, reducing risk; and pipeline activity increased significantly in the 4th quarter.