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Post by xray on Apr 22, 2021 22:40:16 GMT
USDP: USD Partners Announces Quarterly Distribution Increase, Full-Year Distribution Guidance and Its First Quarter 2021 Earnings Release Date USD Partners LP (NYSE: USDP) (the "Partnership") announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1135 per unit for the first quarter of 2021 ($0.454 per unit on an annualized basis), representing an increase of $0.0025 per unit, or 2.25% over the distribution declared for the fourth quarter of 2020. The distribution is payable on May 14, 2021, to unitholders of record at the close of business on May 5, 2021. In addition, the Partnership announced today that Management intends to recommend to the Board of Directors of its general partner to increase its quarterly cash distribution per unit by an additional $0.0025 per quarter for the second, third and fourth quarters in 2021.First Quarter 2021 Earnings Release Date and Conference Call Information The Partnership plans to report first quarter 2021 financial and operating results after market close on Wednesday May 5, 2021. The Partnership will host a conference call and webcast regarding first quarter 2021 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, May 6, 2021. To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the "Events & Presentations" sub-tab under the "Investors" tab. To join via telephone, participants may dial (877) 266-7551 domestically or +1 (339) 368-5209 internationally, conference ID 4593597. Participants are advised to dial in at least five minutes prior to the call. An audio replay of the conference call will be available for thirty days by dialing (800) 585-8367 domestically or +1 (404) 537-3406 internationally, conference ID 4593597. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded. About USD Partners LP USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC ("USDG") to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies, refiners and marketers. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail. USDG, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG, along with its partner Gibson Energy, Inc., is pursuing long-term solutions to transport heavier grades of crude oil produced in Western Canada through the construction of a Diluent Recovery Unit at the Hardisty terminal. USDG is also currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on USDG’s website is not part of this press release. Qualified Notice to Nominees This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors. Live Long and Prosper....
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Post by xray on Apr 28, 2021 17:42:40 GMT
Added additional shares and brought my average MktPrc to 5.13 [based on my previous data post]. Expect that their NEW terminal coming on line will add significant earnings to their 2nd Qtr. With this expectation, a positive change in their NAV, and a increase in their dividend policy for the 2nd,3rd, and 4th Qtr's [as announced], the MktPrc should increase to >7 [going forward]. Hopefully, the insiders may join at some point....
Currently, USDP has a 10star rating [up from 9star] with a Report card grade of 87 and a Power reading of 96....
Comment: Penny Stocks are "NOT" for every one as they are "VERY VOLATILE" in MktPrc for the short term investor....
One single opinion of the many I am sure....
Live Long and Prosper....
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Post by xray on May 6, 2021 21:17:11 GMT
Some of us sold some shares in both TWO and USDP and took the CapGains on both. 1st Qtr results were not up to our expected expectations and took some "EXCESSIVE RISK" off the table....
Live Long and Prosper....
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Post by xray on May 14, 2021 19:08:00 GMT
Followup on NRZ:
---------------------------------
New Residential Investment Reports Strong Numbers on Mortgage Servicing Gains It's an interesting asset for this REIT that increases in price as rates rise.
Brent Nyitray, CFA (TMFBrentNyitray) May 14, 2021 at 10:41AM Author Bio
After experiencing one of the best years in over a decade, mortgage bankers are being treated as suspect by the market. Investors are fretting about rising mortgage rates choking off the refinance market, and increased competition among bankers suppressing margins. In this environment, a mortgage banker with several additional business lines like New Residential Investment (NYSE:NRZ) can be a good way to navigate the current environment.
New Residential is officially a mortgage real estate investment trust (REIT) and holds a $15.9 billion portfolio of mortgage-backed securities and residential whole loans. The company also owns $5.4 billion of mortgage servicing rights (MSRs) and is the largest nonbank owner of mortgage servicing rights.
Abstract picture of interest rates IMAGE SOURCE: GETTY IMAGES.
Mortgage servicing rights are an unusual asset Mortgage servicing rights are interesting in that they increase in value as interest rates rise; pretty much every other financial asset (stocks, bonds) decreases when this happens. Since mortgage originators are likely to see refinance activity fall when rates rise, the mortgage servicing asset can help offset this decline in volumes.
Here is how a mortgage servicing right works: Mortgage servicers handle the administrative tasks of a mortgage loan. They collect the monthly payment, ensure that the owner of the loan gets the principal and interest due, and ensures that property taxes are paid and that homeowners' insurance is up-to-date. If the borrower gets behind on the payments, the servicer works with the borrower to get the loan current or modified. If the borrower defaults, the servicer handles the foreclosure process. For performing these tasks, the servicer gets 0.25% of the value of the loan per year.
Mortgage servicing can offset the decline in origination volume From an investor's point of view, the servicer is going to get 0.25% a year, but the question is for how long. If the borrower refinances the loan within a short period, the asset isn't worth much. On the other hand, if the borrower keeps the loan for a decade, then the asset is worth quite a bit.
Much of that value depends on what interest rates are doing. If rates are going up, then the borrower won't have any incentive to refinance, and the mortgage servicing right is worth a lot. This increase in servicing will help offset declining revenue from the origination business.
On the first-quarter earnings conference call last week, CEO Michael Nierenberg explained it this way:
With refinancing volumes significantly lower and the purchase market for housing expected to remain robust, there is nobody that will be better positioned to take advantage of this scenario than us. As we look ahead, our investment business is well positioned to take advantage of higher rates with MSRs leading the way. It will go up as rates rise, leading to more cash flow and higher earnings. The addition of Caliber [Home Loans] and the great strides we have made around recapture at NewRez will offset the lower expected earnings we will see in the origination business as gain on sale margins continue to shrink.
Servicing income accounted for 44% of revenue in the first quarter, which was a function of servicing income and an increase in servicing values. As a percentage of the loan amount, they increased from 1.06% to 1.19%. Management said on the earnings call that it sees much more upside in the asset as rates rise.
New Residential reported that book value rose 4.4% during the quarter to $11.35 per share. At current levels, the stock is trading at a 13% discount to book value, which is pretty large for the mortgage REIT sector these days. The stock also pays a quarterly per-share dividend of $0.20, which gives the company a 7.8% dividend yield. For income investors, New Residential provides a decent dividend yield, plus has an operating business that makes it less sensitive to the vagaries of the mortgage-backed securities market. ----------------------------------
Last insider buying activity was for 100,000sh @ 10.10 on 4/19....
Disclosure: Some of us currently continue to hold a position in NRZ at Phase #1 [2% to 4% of total portfolio]....
Live Long and Prosper....
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Post by xray on May 16, 2021 17:32:34 GMT
KYN Update [Reference Previous post on Page #1]:
KYN: Previous Post: ........................................................................................Currently 5/16 -MktPrc: 7.30 ........................................................................................... 7.98 -NAV: 8.26 ............................................................................................... 9.19 -Current Star Rating: 7star ......................................................................... 10star last 4wk period -13wk Star Rating: 8.52 stars ..................................................................... 9.67 -Trend: +2.13 [>+0.98 required] ................................................................ +3.52
-YTT total analysis Scoring: +1.46 [>+1.39 required] .................................... +2.91 -Total analysis scoring last week: +323 [>+286 required] .............................. +368 -Current Report Card Grade: 85 .................................................................. 97 -Projected Report Card Grade [next week]: 75 .............................................. 100 -Current Power Rating: 91 [indicating Report Card grade will increase] ............. 100
-Change in MktPrc last 2-wk period: +$0.17 .................................................. +$0.57 -Chart Power Gain/Loss: +8.41 [>+12.20 required] ....................................... +8.93 -Change in Intrinsic Value: -$0.15 ................................................................ +$0.26
-Risk to current portfolio's: +0.357 [>+0.280 required] .................................. +.186 [>+0.115 required] -Sell Code: 0 ............................................................................................. 1 [0 indicates no risk, 1,2 indicates low risk, 3 indicates some normal risk, 4 neutral, 5 re-analysis "wash-sale" required, >6,7 very risky, start reducing shares, >7 sell out]
-Dividend: 8.22% ....................................................................................... 7.52% -Next estimated Dividend announcement: +$0.15/Qtr = +$0.60/Yr [x-div 6/22, pay 6/30 [estimated] ... Div increase expected this year Market price increases causing current decline in dividend.... -Dividend sustainability: 648 [>+552 required] .............................................. 649
-MTB: -0.98 [>+1.01 required] .................................................................... +1.03 -YTD increase: +1.13 [>+0.73 required] ....................................................... +2.90
Live Long and Prosper....
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Post by xray on May 16, 2021 17:38:21 GMT
Comment on KYN:
KYN changed their name to "ENERGY INFRASTRUCTURE FUND" last year....
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Post by xray on May 17, 2021 15:53:00 GMT
WMC added to "Penny Stock" portfolio:
WMC Update [COB Friday]:
WMC:
-MktPrc: 3.15 -BOOK VALUE: 4.27 -Current Star Rating: 10star [last 2 wk's] ... [last few wk's going forward: 7star,8star,9star,10star] -13wk Star Rating: 8.33 stars -Trend: +2.80 [>+1.90 required]
-YTT total analysis Scoring: +1.83 [>+1.39 required] -Total analysis scoring last week: +331 [>+296 required] -Current Report Card Grade: 83 -Projected Report Card Grade [next week]: 100 -Current Power Rating: 95 [indicating Report Card grade will increase]
-Change in MktPrc last 2-wk period: -$0.01 -Chart Power Gain/Loss: +4.21 [>+13.03 required] -Change in Intrinsic Value: -$0.06 [>-0.07 required]
-Last Insider Buying activity: 1500sh @ 2.90 on 11/19/20
-Risk to current portfolio's: +0.477 [>+0.115 required] -Sell Code: 0 [0 indicates no risk, 1,2 indicates low risk, 3 indicates some normal risk, 4 neutral, 5 re-analysis "wash-sale" required, >6,7 very risky, start reducing shares, >7 sell out]
-Dividend: 7.62%% -Next estimated Dividend announcement: +$0.06/Qtr = +$0.24/Yr [x-div 6/30, pay 7/26 [estimated] ... Div increase expected this year Market price increases will cause further current decline in dividend.... -Dividend sustainability: 408 [>+580 required]
-MTB: +1.02 [>+1.01 required] -YTD Book Value increase: +$0.87 [>+$1.04 required]
Live Long and Prosper....
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Post by xray on May 18, 2021 19:37:06 GMT
Update [article] on USDP:
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10 Best Railroad Stocks to Buy in 2021 By Manal Shahid
USD Partners LP (NYSE: USDP)
Market Cap: $170.332 million Number of Hedge Fund Holders: 2
USD Partners LP (NYSE: USDP) is a Texas-based railroad company that acquires, develops, and operates midstream infrastructure and logistics solutions for biofuels, crude oil, and other energy related products in the United States and Canada. The company is divided into two segments: terminalling services and fleet services. As of 2020, USD Partners has a fleet of 1432 railcars across US and Canada. USD Partners LP (NYSE: USDP) announced its earnings in the first quarter of 2021. USD Partners LP (NYSE: USDP) reported a net income of $7.3 million with adjusted EBITDA amounting to $14.6 million and a distributable cash flow of $12.5 million at the end of the quarter. Furthermore, the company also announced that its management intends to recommend to the Board of Directors of the Partnership’s general partner to increase the quarterly cash distribution per unit by an additional $0.0025 per quarter for each of the second, third and fourth quarters in 2021 as compared to the preceding quarter. Dan Borgen, USD’s CEO said that he is pleased to report a strong start to 2021 as their strategically located terminals have continued to perform well. The company has also improved its outlook for 2021 due to its enhanced liquidity position making it one of the best railroad stocks to buy in 2021.
USD Partners LP (NYSE: USDP) ranks 10th in the list of best railroad stocks to buy in 2021.
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Live Long and Prosper....
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Post by xray on May 27, 2021 18:37:58 GMT
Another article on NRZ:
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Income is possible if you know where to look.
Brent Nyitray, CFA (TMFBrentNyitray) May 27, 2021 at 9:16AM Author Bio
A way to profit from changing government housing policy New Residential Investment Corp. (NYSE:NRZ) is a mortgage REIT with an origination business. The mortgage REIT part of the company owns mortgage-backed securities and mortgage-servicing assets. The origination business has historically focused on nonqualified mortgages, which are not guaranteed by the government. This business can be volatile, and when the credit markets have a hiccup, it can cause losses.
New Residential's combination of these two activities helps smooth out the earnings stream. Mortgage originators tend to do well when interest rates fall because they pick up a lot of refinancing demand. On the other side of the coin, heavy refinancing activity is a negative for mortgage-backed securities and mortgage-servicing rights. But the Federal Housing Finance Agency recently made a policy change that should drive more origination volume to the nonqualified mortgage market and help New Residential's origination business.
The company is also a bit of a value stock, trading a little under book value, which means the market is attributing little value to the origination business. New Residential is looking at various ways to unlock the embedded value in this segment. Unlike most mortgage originators, the company pays a REIT-type dividend, which gives it a yield of 7.7% at Wednesday's prices. Investors are being paid to wait in this case.
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Disclosure: Some of us added shares to NRZ in our portfolio's. Currently we hold a phase #2 position [4%-6%] in NRZ with a average MktBuyPrc of 9.92 Penny Stock Level]....
Live Long and Prosper....
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Post by xray on Jun 4, 2021 17:46:22 GMT
"ALL" of our "Penny Stocks" [<$10] continue to perform to expectations currently....
Live Long and Prosper....
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Post by xray on Jun 10, 2021 18:11:46 GMT
NRZ hit 11.16 this morning and has been taken off our "Penny Stock" listing. Many of us hold a substantial amount currently of NRZ [with a current book value of 11.35]....
Have a "GREAT" week.... Live Long and Prosper....
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Post by xray on Jun 10, 2021 18:13:43 GMT
WMC took a substantial jump and currently at 4.14 [book value 4.27] this morning....
Live Long and Prosper....
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Post by xray on Jun 13, 2021 18:45:52 GMT
xray, Chahta, yogibearbull, anitya, richardsok, chang, Penny stocks can be very profitable if/when a proper analysis can be made [and we are "PATIENT" with undervalued securities]. Add to this, that if a penny stock is paying a current dividend [and analysis data indicates that the security should be increasing it] within a 1-year period, it should be worth investing in. Penny stocks [normally] "NEVER" pay a dividend. Also, some of us would rather invest in a penny stock [<$10] to own "many more" shares and make better CapGains each and every year [where possible]. With this in mind.... Review of current "Penny Stocks" USDP with a current MktPrc of 6.89 ... 5star currently ... 62 report card grade/73 Power grade ... Insider buy @ 4.78 3/20/20 [76,000sh] ... expect $10 before end of year with new depot and railroad of OIL ... dividend currently 6.70% TWO with a current MktPrc of 7.55 ... 7star currently ... 73 report card grade/83 Power grade ... Insider buy @ 6.66 on 2/18/21 [55,000sh] ... dividend currently 9.01% KYN with a current MktPrc of 9.03 ... 10star currently ... 100 Report card grade/100 Power grade ... Oil and Infrastructure .... Insider buy @ 6.44 on 6/10/20 [15,000sh] ... expect $15-20 by end of 2022 ... Penny stock ends @ $10.00 and investors may start buying ... dividend currently 6.64% NRZ with a current MktPrc of 11.04 ... 8star currently ... 93 report card grade/98 Power grade ... Insider buy @ 10.10 on 4/19/21 [100,000sh] ... expect $15-20 by end of 2022 ... currently undervalued with book value @ 11.35 ... Penny stock value ended with $10 ... dividend currently 7.25% WMC with a current MktPrc of 3.49 ... 10star currently ... 97 Report card grade/100 Power grade ... Insider buy @ 2.90 11/19/20 [1500sh] .. undervalued with book value @ 4.27 ... dividend currently 6.88% Disclosure: Many of us hold >500sh of each of the above Penny stocks [and have already realized CapGains in each Penny stock shown with the exception of WMC].... "WARNING" Penny stocks are "NOT" for everyone and are always considered {beyond the reasonable "normal" risk allocations].... Live Long and Prosper....
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Post by richardsok on Jun 13, 2021 22:34:38 GMT
thanks, Xray. We overlap on several positions.
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Post by xray on Jun 17, 2021 20:44:34 GMT
"TWO" Update:
NEW YORK, June 16, 2021 /PRNewswire/ -- Two Harbors Investment Corp. (NYSE:TWO) will replace Cardtronics plc (NASD:CATM) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, June 22. S&P MidCap 400 constituent NCR Corp. (NYSE: NCR) is acquiring Cardtronics in a deal expected to be completed soon pending final closing conditions.
Two closed @ 7.75 today....
Live Long and Prosper....
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Post by xray on Jun 18, 2021 17:55:41 GMT
TWO announces $0.17 dividend for the 2nd Qtr [x-div 6/27, pay 7/29]....
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Post by xray on Jun 20, 2021 15:25:17 GMT
Reference my last few posts referring to "TWO":
We must keep in mind that TWO used to pay $1.60/Yr [after the buyout of of CYS] and before the Covid-19 problem. TWO has been building their dividend back by starting with $00.05, then $00.14, and now currently at $0.17. Add to this that their book value was currently 7.29 on 5/6. My computer projections show TWO should again increase their dividend again by the 4th Qtr of this year. Since they are being added to S&P Small Cap 600 on 6/22, their market exposure should increase bringing more investors to review and analyze TWO....
Disclosure: Some of us are currently holding a full phase #3 position [4%-6% of total portfolio] in TWO with our last additional buy last week. Currently, my analysis data on TWO [COB Friday] shows TWO with the following analysis parameters:
Current Star Ratings: 7star [0-10star rating system] Report Card Grades: 75 [0-100 rating system] Power Ratings: 84 [power rating must be higher for any buy consideration] Weekly performance: +291 [>300 required] Chart Power Rating: 7.29 [>+12.56 required] Risk to portfolio's with 2% allocation [Rf]: +0.180 [>+0.083 required] MTB: +1.00 [>+1.00 required] Best MktBuyPrc currently: 7.48 Trend [looking forward]: +1.95 [>+194 required] Dividend sustainability: +420 [>+571 required] Change in book value since last year: +0.75 [>+1.00 required]
One single opinion of the many I am sure....
Live Long & Prosper....
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Post by xray on Jun 22, 2021 20:44:51 GMT
Appears we have lost this penny stock [WMC] based on their wording:
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PASADENA, Calif., Jun 22, 2021--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the "Company") (NYSE: WMC) announced today that its Board of Directors has declared a cash dividend of $0.06 per share for the second quarter of 2021. Today’s dividend is payable on July 26, 2021 to common shareholders of record as of July 02, 2021, with an ex-dividend date of June 30, 2021.
In addition, the Company estimates that its GAAP book value per share, as of May 31, 2021, was approximately $3.49. The May 31, 2021 estimated GAAP book value is unaudited, has not been verified or reviewed by any third party and is subject to normal quarterly reconciliation and other procedures. Further, the estimated book value is as of May 31, 2021 and does not include the dividend announced today.
The estimated decline in book value during the first two months of the second quarter of 2021 from the book value reported as of March 31, 2021 in the Company’s Quarterly Report on Form 10-Q was primarily due to a decline in fair value in a commercial real estate mezzanine loan held by the Company with an outstanding balance of $90 million. The underlying property is a class A retail and entertainment complex located in the North East US. The unprecedented global pandemic has adversely impacted the operating performance of this major asset that was scheduled to open in March 2020, but was severely impacted by COVID-19 related shutdowns and restrictions. As previously disclosed, the Company was receiving interest payments on this loan from a reserve that was exhausted in May and the loan became non-performing upon depletion of the reserve.
The Company is currently in discussions with the borrower and other lenders on potential restructuring of the borrower’s debt and there are a number of possible outcomes for this major complex project. There can be no assurance that these discussions will result in a positive outcome for the Company and the Company may suffer further losses with respect to the mezzanine investment.
The rest of the portfolio (excluding the loan discussed above) has generally experienced improved valuations from March 31, 2021 to May 31, 2021.
GAAP book value will fluctuate with market conditions, the results of the Company’s operations and other factors. The Company’s current GAAP book value may be materially different from the May 31, 2021 estimated GAAP book value.
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Disclosure: Some of us currently have 3.21% of WMC in current portfolio's. We will be selling 50% tomorrow [leaving us 1.6% to wait and see (looking forward)]....
Live Long and Prosper....
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Post by xray on Jun 23, 2021 17:24:01 GMT
Sold this morning 50% of current holdings in WMC @ 3.50 & took CapGain....
Live Long and Prosper....
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Post by xray on Jun 25, 2021 18:28:09 GMT
KYN:
Hot of the press [Dividend increase as expected] ....
HOUSTON, June 24, 2021 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) announced today a quarterly distribution of $0.175 per share for the fiscal quarter ended May 31, 2021. This distribution, which is an increase of $0.025 per share over the prior distribution, is payable to common stockholders on July 13, 2021 (as outlined in the table below).
The Company’s management and its Board of Directors recognize that distributions are a significant part of the value proposition KYN provides to its investors. Based on its closing stock price as of June 23, 2021, KYN’s distribution rate is 8.0%.
“One of management’s most important long-term goals is to provide KYN’s investors an attractive distribution, and I am very pleased to announce a 17% increase in the Company’s distribution. KYN’s portfolio investments have performed well over the last year, and we have increased confidence in the outlook for energy infrastructure companies over the next few years. In addition, KYN’s midstream holdings, which make up the substantial majority of the Company’s portfolio, are now generating free cash flows well in excess of their dividend payments,” said Jim Baker, the Company’s Chairman, President and CEO. “We expect our midstream holdings will use these excess free cash flows in ways that enhance shareholder value and, in turn, result in capital appreciation in KYN’s portfolio. We believe this increase in KYN’s distribution is an effective way to pass along these benefits to our investors. Based on our current outlook, we believe this distribution level is sustainable and is consistent with our distribution policy, which considers net distributable income (NDI) as well as realized and unrealized gains from KYN’s portfolio investments when determining KYN’s distribution,” concluded Mr. Baker.
Live Long and Prosper....
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Post by xray on Jun 29, 2021 15:52:10 GMT
HOUSTON, June 28, 2021--(BUSINESS WIRE)--USD Partners LP (NYSE:USDP) ("USDP" or the "Partnership") announced today that the Partnership has entered into a Terminal Services Agreement with USD Clean Fuels LLC ("USDCF"), a newly-formed subsidiary of US Development Group, LLC ("USDG"). The Terminal Services Agreement provides for the inbound shipment of renewable diesel on rail and the outbound shipment of the product on tank trucks to local consumers. The agreement has an initial term of five years with a target commencement date of December 1, 2021, and is supported by a minimum throughput commitment to USDCF from an investment-grade rated, refining customer as well as a performance guaranty from USDG.
"We are excited to announce this very accretive opportunity at the Partnership. This opportunity is incremental to our existing ethanol business at West Colton and is projected to generate additional Adjusted EBITDA of approximately $2.0 million per year at the Partnership over the five-year term," said Adam Altsuler, the Partnership’s Chief Financial Officer. "Total capital associated with the opportunity is approximately $1.8 million, which we intend to fund from cash flows from operations."
USDCF is a newly-created entity formed by USDG, the Partnership’s sponsor, to focus on providing production and logistics solutions to the growing market for clean energy transportation fuels.
"USDG has created USD Clean Fuels in response to a structural shift in demand associated with decarbonizing the transportation fuels sector," said Brad Sanders, Executive Vice President and Chief Commercial Officer for USDG. "We believe our assets, capabilities and vision are ideally suited to serve our customers’ growth plans in clean fuels in terms of both geography and product offering (renewable diesel, sustainable aviation fuel, etc.). We are thrilled to be able to bring cleaner and sustainable industry solutions to California fuel markets, and we look forward to more announcements in the future as the industry and clean fuels markets continue to evolve."
In connection with the execution of the Terminal Services Agreement, the Partnership entered into a Marketing Agreement with USDCF granting USDCF the right to market and develop renewable diesel growth projects at the West Colton terminal. Additionally, USDG entered into to an amended and restated Omnibus Agreement with the Partnership to extend the term of the Partnership’s right of first offer on any midstream infrastructure assets that the sponsor may develop, construct, or acquire, which would include any renewable diesel growth projects at the West Colton Terminal, for an additional five years, subject to certain conditions. The Partnership’s right of first offer was otherwise set to expire in October of 2021.
Disclosure: Some of us continue to have a "full Maximum position in USDP [6%-8% of portfolio]"....
Live Long and Prosper....
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Post by xray on Jun 29, 2021 15:59:24 GMT
Top Dividend Stocks for July 2021 NLY, AGNC, NRZ, ETRN, and NYCB are top by forward dividend yield
By MATTHEW JOHNSTON Reviewed by JULIUS MANSA Updated Jun 28, 2021
Dividend stocks are companies that pay out a portion of their earnings to a class of shareholders on a regular basis. These companies usually are well established, with stable earnings and a long track record of distributing some of those earnings back to shareholders. The distributions are known as dividends and may be paid out in the form of cash or as additional stock. Most dividends are paid out on a quarterly basis, but some are paid out monthly, annually, or even once in the form of a special dividend. While dividend stocks are known for the regularity of their dividend payments, in difficult economic times, those dividends may be cut to preserve cash.
One useful measure for investors to gauge the sustainability of a company's dividend payments is the dividend payout ratio. The ratio is a measure of total dividends divided by net income, which tells investors how much of the company's net income is being returned to shareholders in the form of dividends versus how much the company is retaining to invest in further growth. If the ratio exceeds 100% or is negative (meaning net income is negative), this indicates the company may be borrowing to pay dividends. In these two cases, the dividends are at a relatively greater risk of being cut.
Below, we look at the top five dividend stocks in the Russell 1000 by forward dividend yield, excluding companies with payout ratios that are either negative or in excess of 100%. The first three stocks have outperformed the broader market, represented by the Russell 1000 Index, while the last two stocks listed below have underperformed. The Russell 1000 has provided a total return of 44.6% over the past 12 months.1 This market performance number and all statistics below are as of June 24, 2021.
New Residential Investment Corp. (NRZ) Forward Dividend Yield: 7.50% Payout Ratio: 56.1% Price: $10.66 Market Cap: $5.0 billion 1-Year Total Return: 54.9%1 New Residential Investment is a mortgage REIT. It provides capital and services to the mortgage and financial services industries. The company invests in assets with stable, long-term cash flows. Its investment portfolio includes mortgage servicing-related assets, non-agency securities, residential loans, and other related investments.4
Disclosure: Many of us continue to have maximum exposure in NRZ [6%-8% of portfolio]....
Live Long and Prosper....
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Post by xray on Jul 1, 2021 20:20:22 GMT
News on Penny Stock USDP:
8.11+0.56 (+7.41%) At close: 3:54PM EDT
8.12 +0.04 (0.50%) After hours: 04:00PM EDT
Big jump in our current portfolio's. Looking for a increase in the dividend by the end of 4th Qtr [IMHO]....
Live Long and Prosper....
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Post by xray on Jul 6, 2021 18:33:11 GMT
Reference my posts on "TWO":
Where Do Hedge Funds Stand On Two Harbors Investment Corp (TWO)? Asma UL Husna Tue, July 6, 2021, 12:27 AM
While the market driven by short-term sentiment influenced by the accommodative interest rate environment in the US, virus news and stimulus spending, many smart money investors are starting to get cautious towards the current bull run since March, 2020 and hedging or reducing many of their long positions. Some fund managers are betting on Dow hitting 40,000 to generate strong returns. However, as we know, big investors usually buy stocks with strong fundamentals that can deliver gains both in bull and bear markets, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Two Harbors Investment Corp (NYSE:TWO).
Is Two Harbors Investment Corp (NYSE:TWO) a buy, sell, or hold? Money managers were buying. The number of long hedge fund bets advanced by 14 lately. Two Harbors Investment Corp (NYSE:TWO) was in 32 hedge funds' portfolios at the end of the first quarter of 2021. The all time high for this statistic was previously 24. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that TWO isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). There were 18 hedge funds in our database with TWO positions at the end of the fourth quarter.
So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 115 percentage points since March 2017 (see the details here). We have been able to outperform the passive index funds by tracking the moves of corporate insiders and hedge funds, and we believe small investors can benefit a lot from reading hedge fund investor letters and 13F filings.
Billionaire David Siegel's Top 10 Stock Picks Billionaire David Siegel's Top 10 Stock Picks David Siegel of Two Sigma Advisors
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage. Keeping this in mind let's take a peek at the key hedge fund action surrounding Two Harbors Investment Corp (NYSE:TWO).
Do Hedge Funds Think TWO Is A Good Stock To Buy Now?
At first quarter's end, a total of 32 of the hedge funds tracked by Insider Monkey were long this stock, a change of 78% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in TWO over the last 23 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
When looking at the institutional investors followed by Insider Monkey, John Overdeck and David Siegel's Two Sigma Advisors has the largest position in Two Harbors Investment Corp (NYSE:TWO), worth close to $29.2 million, comprising 0.1% of its total 13F portfolio. The second most bullish fund manager is Renaissance Technologies, holding a $18 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors with similar optimism include Stuart J. Zimmer's Zimmer Partners, and Israel Englander's Millennium Management. In terms of the portfolio weights assigned to each position Cadian Capital allocated the biggest weight to Two Harbors Investment Corp (NYSE:TWO), around 0.37% of its 13F portfolio. Angelo Gordon & Co is also relatively very bullish on the stock, dishing out 0.22 percent of its 13F equity portfolio to TWO.
With a general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. Zimmer Partners, managed by Stuart J. Zimmer, created the most outsized position in Two Harbors Investment Corp (NYSE:TWO). Zimmer Partners had $13.2 million invested in the company at the end of the quarter. Daniel S. Och's OZ Management also initiated a $11.3 million position during the quarter. The other funds with new positions in the stock are Israel Englander's Millennium Management, Anand Parekh's Alyeska Investment Group, and Eric Bannasch's Cadian Capital.
Disclosure: Some of us currently have maximum allowable portfolio positions in TWO @ the current time [with CapGain]....
----------------------------------- TWO [current data]: -MktPrc 7.45 Last Insider Buy: 2/18/21, 55k, 6.56 -Book Value: 7.29 [reported 5/6] -Current Star Rating: 6star -13wk Star Rating: 6.67 stars -Trend: +1.95 [>+2.69 required]
-YTT total analysis Scoring: +1.35 [>+2.22 required] -Total analysis scoring last week: +264 [>+299 required] -Current Report Card Grade: 67 -Projected Report Card Grade [next week]: 65 -Current Power Rating: 77 [indicating Report Card grade could go higher]
-Change in MktPrc last 2-wk period: -$0.30 -Chart Power Gain/Loss: +7.70 [>+13.72 required] -Change in Intrinsic Value: -$0.41
-Risk to current portfolio's: +0.182 [>-0.085 required] -Sell Code: 1 [1-2 indicates no risk, 3 indicates some risk, 4 neutral, 5 re-analyze, >6 starts reducing shares/sell out]
-Dividend: 9.12% [last dividend: $0.68, x-div 6/27, pay7/29] -Next "estimated" Dividend announcement: [+$0.17/Qtr = +$0.68/Yr] x-div 9/27 Market price increases causing current decline in dividend.... -Dividend sustainability: 420 [>+582 required]
-MTB: -0.95 [>1.02 required] -YTD increase: +0.75 [>+1.65 required] -----------------------------------
Live Long and Prosper....
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Post by xray on Jul 9, 2021 21:48:44 GMT
My: Penny Stocks [<$10.00] Jun 23, 2021 at 1:24pm QuoteEditlikePost Options Post by xray on Jun 23, 2021 at 1:24pm Sold this morning 50% of current holdings in WMC @ 3.50 & took CapGain.... Live Long and Prosper.... ----- Disclosure:
Restored my 50% in WMC @ 3.04. Now at my original phase #1 position [2%-4% of total portfolio] with a average MktPrc of 3.18.... Press Release:Conference Call and Webcast Scheduled for Wednesday, August 4, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time PASADENA, Calif., July 07, 2021--(BUSINESS WIRE)--Western Asset Mortgage Capital Corporation (the "Company") (NYSE: WMC) today announced that it will release financial results for the second quarter ended June 30, 2021 after the market closes on Tuesday, August 3, 2021. The Company will host a corresponding conference call with a live webcast on Wednesday, August 4, 2021 at 11:00 a.m. Eastern Time/8:00 a.m. Pacific Time, to discuss those results and answer questions. Individuals interested in participating in the conference call may do so by dialing (866) 235-9914 from the United States, or (412) 902-4115 from outside the United States and referencing "Western Asset Mortgage Capital Corporation." Those interested in listening to the conference call live via the Internet may do so by visiting the Investor Relations section of the Company’s website at www.westernassetmcc.com. ------ Live Long and Prosper....
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Post by xray on Jul 12, 2021 23:30:01 GMT
TWO in the news today:
NEW YORK, July 12, 2021--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust, today announced that it has commenced an underwritten public offering of 40,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of its common stock. The Company intends to use the net proceeds from the offering to purchase its target assets, including residential mortgage-backed securities, mortgage servicing rights and other financial assets, in each case subject to its investment guidelines and to the extent consistent with maintaining its real estate investment trust qualification, and for general purposes.
Live Long and Prosper....
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Post by xray on Jul 13, 2021 15:49:56 GMT
TWO news this morning....
NEW YORK, July 13, 2021--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust, today announced that is has priced a public offering of 40,000,000 shares of its common stock for a total expected gross proceeds of $260 million, before underwriting fees and estimated offering expenses. In connection with the offering, the Company has also granted the underwriters an option for 30 days to purchase up to an additional 6,000,000 shares of common stock. The offering is subject to customary conditions and is expected to close on or about July 15, 2021.
The Company intends to use the net proceeds from the offering to purchase its target assets, including residential mortgage-backed securities, mortgage servicing rights and other financial assets, in each case subject to its investment guidelines and to the extent consistent with maintaining its real estate investment trust qualification, and for general corporate purposes....
TWO, in early morning trading, is 6.74....
Please keep in mind that "Penny Stocks" JUMP" [10% to 20% in either direction] in their MktPrc's a lot more than our regular securities because of the "Nature of the beast" [<$10].
Live Long and Prosper....
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Post by xray on Jul 14, 2021 18:45:08 GMT
Article today on "TWO":
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Why Two Harbors Stock Was All Wet Today Investors expressed their displeasure about a new share issue from the mREIT.
Eric Volkman (TMFVolkman) Jul 13, 2021 at 6:14PM Author Bio What happened Tuesday was a particularly damp and soggy day for Two Harbors Investment (NYSE:TWO). Its shares sank by over 9% after it set the price for a fresh stock flotation.
So what Two Harbors announced Tuesday that it would reap gross proceeds of $260 million from a public offering of 40 million shares, putting the per-share price at $6.50. Investors promptly traded the stock down to just above that level.
Scale with house on one side and bag of money on the other.
Also, Two Harbors -- a long-standing mortgage real estate investment trust (mREIT) -- has granted the issue's underwriters an option to buy more. Those entities can snatch up to an additional 6 million shares collectively. As is standard in new stock issues, that option is in force for 30 days.
In its announcement, Two Harbors wrote that it will use its share of the issue's proceeds to purchase more of the assets that underlie its business. As opposed to equity REITs that invest in physical properties and lease them to tenants, mREITs purchase the mortgages and related investments that fund such purchases.
An mREIT makes its money on the often-thin spread between its funding sources and the income received from mortgage investments. This is why mREITS tend to be heavily leveraged, and frequently on the hunt for more capital.
Now what Two Harbors has floated numerous secondary-stock issues over the years. This one is quite dilutive, though (the company has just under 274 million shares outstanding), and the price is relatively low. No wonder investors didn't greet the news warmly.
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Comment: Book Value is 7.29 currently.... Disclosure: No change in current position of TWO....
Live Long and Prosper....
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Post by xray on Jul 15, 2021 17:29:47 GMT
TWO news today: NEW YORK, July 14, 2021--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust, announced today that it will release financial results for the quarter ended June 30, 2021 after market close on August 4, 2021. The company will host a conference call to review the financial results on August 5, 2021 at 9:00 a.m. ET.To participate in the teleconference, please call toll-free (877) 502-7185 approximately 10 minutes prior to the above start time. You may also listen to the teleconference live via the Internet at www.twoharborsinvestment.com in the Investors section under the Events and Presentations link. For those unable to attend, a telephone playback will be available beginning August 5, 2021 at 12:00 p.m. ET through August 19, 2021 at 12:00 p.m. ET. The playback can be accessed by calling (877) 660-6853 and providing the Conference Code 13721255. The call will also be archived on the company’s website in the Investors section under the Events and Presentations link. Live Long and Prosper....
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Post by xray on Jul 16, 2021 14:04:11 GMT
KYN makes the Barron's Newsletter:
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6 Funds That Have Caught Wall Street’s Eye By Randall W. Forsyth Updated July 15, 2021 9:28 am ET / Original July 14, 2021 10:59 am ET BARRON'S NEWSLETTERS
Closed-end funds have been almost exclusively the province of individual investors. They’re pitched to retail in their initial public offerings and then are predominantly traded in the secondary market by individuals or their advisors.
Few CEFs attract institutional investors—in large part because most are relatively small in overall size and trade in relatively limited volumes, which limits their liquidity. That’s a key consideration for institutions that may need to buy and sell in multimillion-dollar sizes, far bigger amounts than most individuals deal in.
One result is the CEF market tends to be inefficient, meaning the funds’ prices can depart from their intrinsic values. In perfectly efficient markets, traders would instantly pounce on such anomalies, buying cheap funds and selling dearly priced ones. That’s not the reality in this sector, given wide spreads between bid and ask prices for only small amounts of stock, in many cases.
The Kayne Anderson Energy Infrastructure fund (KYN) focuses on master limited partnerships, including those operating major pipelines.
As usual, these screens offer a starting place for investors to investigate ideas. In these names, you will also find some company among professional institutional investors.
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Live Long and Prosper....
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