Devenorr/iStock via Getty Images Introduction Receiving dividends is fun – and often necessary to retire (early). However, when it comes to chasing yield, I’m extremely careful, as I believe the higher the yield, the higher the risk there’s something fundamentally wrong with the underlying investment. That’s the so-called “sucker yield.” Companies that fall under the…
GrandviewGraphics/iStock via Getty Images ACRES Commercial Realty’s (NYSE:ACR) remarkable discount to its book value remains steep even after its 50% 1-year rally. The commercial mortgage REIT last reported a GAAP book value per share of $26.65 at the end of its fiscal 2023 fourth quarter, this was a sequential increase of $1.58 per share primarily…
winhorse “Not pretty, but reasonably cheap” was basically the essence of my investment case when I opened on Asia-focused bank Standard Chartered (OTCPK:SCBFY)(OTCPK:SCBFF) with a Buy rating last year. More specifically, while this bank was/is structurally less profitable than certain peers, a then-valuation of 0.7x tangible book value did not require miracles in terms of…
bfk92 Note: I previously covered Dorian LPG (NYSE:LPG). In my previous take on LPG, I discussed its merits (fleet, financials, and valuation) and the LPG market, particularly the VLGC segment. I gave LPG a hold rating. Today, I comment on the last company report, the Dorian’s valuation, and the LPG market. LPG market highlights LPG…
scotto72/E+ via Getty Images Late last week I sold most of my Nucor Corporation (NYSE:NUE) stock, because I think the stock market is too high and because of issues specific to Nucor. NUE has soared 450% (568% total return) since my January 2016 buy recommendation article compared to 175% for the S&P 500, and it…
temizyurek Investment thesis Our current investment thesis is: Mitsui (OTCPK:MITSY) is a play on superior asset allocation in our view. The company is generating significant cash and reinvesting it in a range of industries, leveraging its global relationships and ability to buy-and-build to generate superior returns to its peers. Based on our analysis of case…
Uldis Zile/iStock via Getty Images Introduction Timberland Bancorp (NASDAQ:TSBK) is a small regional bank in Washington state with less than $1.9B in assets on its balance sheet. I have been keeping an eye on this small regional bank for a few years now, as I’m charmed by the management’s “hands-on” approach. The total return since…
francois-roux/iStock Editorial via Getty Images KKR Real Estate Finance (NYSE:KREF) is swapping hands at a 14% discount to book value per share of $16.29 as of the end of its fiscal 2023 third quarter. This discount has tightened materially from 28% since I last covered the mortgage REIT whose most recent quarterly cash dividend of…
Klaus Vedfelt/DigitalVision via Getty Images Expedia (NASDAQ:EXPE) saw its stock downgraded by Barclays this week with analysts projecting a slowdown in travel over the next year. That was in contrast to an IATA report the previous week expecting a bump higher in air travel. In this article, I will try to uncover who is right…
SimonSkafar Summary In my previous coverage (in May’23), I recommended a buy rating as I saw a path for AGCO (NYSE:AGCO) earnings and revenue to continue growing, supported by the strong industry tailwind. I also believed that management FY23 revised sales guidance was management signaling higher volume. Since my last update, the stock performed as…
MarsBars Many high-yielding opportunities remain on the market today despite the recent bounce in the market. For those who like income, Starwood Property Trust (NYSE:STWD) currently offers a 10% yield that may be appealing at present. I last covered STWD here back in August, noting its discount to book value and potential benefits from the…
Maksim Safaniuk/iStock Editorial via Getty Images Introduction Mapfre (OTCPK:MPFRF) (OTCPK:MPFRY) is a Spanish insurance company generating the majority of its net income from its LatAm division which also is a strong driver for growth. Additionally, the company continues to invest in its reinsurance division and noticed some strong results in the first nine months of…
designer491 Redwood Trust (NYSE:RWT) has an over 20% return since I placed a “Buy” rating on the REIT in May. With other mortgage REITS struggling, let’s take a closer look at the name ahead of its Q3 earnings. Company Profile As a refresher, RWT is a specialty finance company that is classified as a REIT…
Phiromya Intawongpan One: The window of weakness is closing In my previous Chart Book, I discussed how we were entering a window of weakness following the mid-September quarterly options expiration. The last two or so weeks in September and the first week of October generally represent a window whereby the structurally positive flows of Vanna…
imaginima US manufacturers reported another tough month of trading in August. Output has fallen back into decline after a brief respite in July amid an increasingly steep deterioration in order books. Orders are in fact falling faster than factories are cutting output, suggesting firms will need to continue scaling back their production volumes into the…
Erik Cason started his Bitcoin journey in 2012, setting in motion a trajectory that would lead him to working at Coinbase, where he spent four years democratizing access to Bitcoin. Cason’s time there inspired a path that meandered through the intellectual landscapes of cryptography, sovereignty and political implications surrounding this revolutionary technology. Today, Cason stands…
gguy44 Introduction As it has been nine months since I last had a look at Parke Bancorp, Inc. (NASDAQ:PKBK), I thought the Q2 results are a good enough reason to have another look at this small regional bank focusing on New Jersey with a residential real estate heavy loan book. Needless to say, the bank…
cineman69/iStock Editorial via Getty Images Pebblebrook Hotel Trust (NYSE:PEB) has yet to reinstate quarterly cash dividends long suspended since the outbreak of the pandemic in early 2020. This dearth of income has been at odds with other hotel REIT peers like Braemar Hotels & Resorts (BHR) as Pebblebrook’s exposure to urban hotels has formed a…
Vivek Vishwakarma/iStock via Getty Images It’s easy to become jaded in a market where even some savings accounts yield 5%. However, one must ask just how durable that yield really is? While interest rates may seem high now, there’s no guarantee that the Fed won’t cut them next year, should inflation approach the 2% level…