Still can't find any news to account for today's drop. STAG has been a good position for me in the past. I just bought in again two days ago for the following reasons - #1 performing industrial REIT since its' IPO ; highest dividend, lowest FFO & AFFO multiples among peers; high growth rate; leases are triple net; dividend covered by operating income; sizable pipeline which should produce 25% growth this year; only 7% tenant turnover this year. So keep the faith for now.
to the proxy earlier today requesting shareholder permission to issue new shares below NAV ? With the stock around $17.15, and the NAV $16.85, I suspect that new shares would be issued at least at NAV price . I have noticed that BDCs request this permission annually even when they have no apparent interest in issuing shares below NAV .
Forget " the big boys " and the unwarranted optimistic posts that abound on this board. What shareholders ( of which I am one ) need is for management to act in our interest - by quantifying the NG assets and by moving forward with an aggressive repurchase program. In the years that I have ( unfortunately ) owned shares of GURE, management has never exhibited interest in the principle of promoting shareholder value.
Any news to account for today's jump in share price ? Considering the generous dividend, discount to NAV and sizable share buyback program, I have long considered DRETF to be undervalued.
I have owned all three for some time. For the moment, I might give PNNT a slight edge . However, there is a certain similarity considering that all three sell below NAV and all have sizable dividends. PNNT is the only one that has not lowered their dividend.
Despite the recent market weakness, CYS share price has been able to make up the recent .30 dividend . I'm also encouraged by the current discount to NAV (15% ) and by the $250M stock repurchase authorization in place. The current 13% dividend appears to be safe.
Don't know how a discussion of PSEC got onto FSC message board ; but as a long-term PSEC shareholder, I would like to point out that PSEC is almost always a buy when it sells at a 15% or greater discount to book, as it does now.
Will pay .16 on 4/28 to 3/31 record holders. This still provides a 13.4 % dividend at current price. If the dividend announcement triggers a drop today, that will provide a good entry point.
As an RSO shareholder for years, I agree that the co. always seems to have "upside" . Unfortunately it never seems to get there.
Unfortunately I cannot listen to this morning's call , but I would greatly appreciate someone pushing management on why they haven't pursued a more aggressive share repurchase . This would certainly be at the top of the list in creating value for shareholders. Thanks .
I've been waiting for years for management to "benefit " shareholders. Even now they note that they've bought back some shares, apparently not enough to share the number with us. With $3.77 per share in cash, a sizable share repurchase should be a no-brainer, even for this management . What makes their lack of interest in shareholders even harder to understand is that about 35 % of shares are owned by insiders. As an investor for decades, I cannot recall a more frustrating , less responsive management .
With the announcement of a 10M share issuance , prepare for a drop in share price today. However, as long as the shares are issued at a price above the current book of $16.39, the event will be accretive to current shareholders.
I am a long-term PNNT shareholder. While the co. only earned .26 in the last quarter of 2014 and paid a .28 dividend, I continue to believe that the dividend is safe and that the stock can be bought at the current price. I recently added at $ 9.55 . The co. has .21 per share in undistributed taxable income; sells significantly below NAV of $10.43 ; has an average yield of 12.6% on new debt instruments ; multiple insider buys in Feb.; several analyst upgrades in Feb.
Why can't RSO report results soon after the market closes , as most companies do, especially since they are located in the eastern time zone. -just another sign of their disdain for shareholders and others awaiting the results.
I have shares in both. They both have sizable dividends that appear to be sustainable, significant insider buying and both sell at a sizable discount to NAV. Going forward, I would give the edge to PNNT , but I think both are currently undervalued and worth buying on any dip , especially for investors seeking income. Just one man's opinion.
To thewisejman - While I usually avoid discussing one stock on another stock's message board, I did solicit your views on PNNT since I'm looking to add shares on a dip ( your view -" neutral"). I do have a significant position in FSC , but have been disappointed by the fall in share price, the dividend cut, and the cut in rating to market perform by two analysts who also cut their targets for the stock. I retain some optimism from Tannenbaum's sizable purchase earlier this month and from the sizable discount to NAV.
As an investor in BDCs, your ( thewisejman) comments are appreciated. Noting your "neutrality" on PNNT, please comment on my reasons for considering adding shares on a dip -multiple insider buys this month, anticipate stable divi, especially with .21/share in undistributed taxable income , only 2 non-accruals, energy loans first lien, aver. yield on new debt instruments 12.6 %