Nikolay Pandev/E+ via Getty Images I bought Office Properties Income Trust’s (NASDAQ:OPI) 6.375% Senior Notes due 6/23/2050 (NASDAQ:OPINL) in November on the back of what was then a roughly 40% discount to their $25 liquidation value per note. This security has since continued to dip as market angst over office properties ramped up in response…
Iryna Drozd Rithm Capital Continues To Deliver Rithm Capital Corp. (NYSE:RITM) stock has remained incredibly resilient, easily outperforming the S&P 500 (SPX) (SPY) on a total return basis since my last bullish RITM update in February 2024. I urged RITM investors to capitalize on its post-earnings decline after its Q4 earnings then, confident in RITM’s…
JHVEPhoto/iStock Editorial via Getty Images Note: All amounts discussed are in Canadian Dollars, all prices refer to the TSX. We rated Canadian Utilities Limited (TSX:TSX:CU:CA) a buy earlier this year. We covered the Q3-2023 numbers in that piece, and we came away feeling confident that the company could deliver a 3% earnings growth despite high…
Klaus Vedfelt In my latest article regarding the pending merger of the Apollo funds, AIF and AFT, with and into the BDC, MidCap Financial Investment Corp. (MFIC), I discussed how those 2 CEFs will be integrated into a new asset class and that this situation represents a unique opportunity. I find it rather interesting that…
PM Images Shareholders of AbbVie Inc. (NYSE:ABBV) should be thrilled with its overall results, as just the appreciation over the past decade has outperformed the market. Shares of ABBV have appreciated by 248.90% over the past decade and by 104.87% over the past 5 years. The SPDR S&P 500 ETF Trust (SPY), which is what…
PM Images Shares of FS KKR Capital Corp (NYSE:FSK) were declining into their Q4 2023 earnings report and dramatically sold off after they Q4 numbers were published. Shares of FSK had declined by -$1.14 (-5.49%) from January 4th through February 26th, then immediately after their Q4 earnings hit the street, shares declined another -$1.15 (-5.86%)…
undefined/iStock via Getty Images Introduction At the end of 2023, Seapeak owned an “average” 21 LNG carriers and 21 NGL carriers on a consolidated basis throughout the year. I was mainly interested in the LNG vessels as the sole reason to have a long position in Teekay LNG Partners. I also owned the preferred shares…
Wavebreakmedia/iStock via Getty Images Previous Thesis I last covered Care Trust REIT (NYSE:CTRE) here on Seeking Alpha back in November. I thought the stock was a safer alternative to another healthcare REIT that is a favorite amongst dividend investors, Omega Healthcare Investors (OHI). Since that article published CTRE is up nearly 20%, so investors who…
PM Images/DigitalVision via Getty Images Introduction Over the past few years, I have increasingly focused on one major issue: the looming retirement crisis. Although every time I use the word “crisis” in a title, I feel guilty of clickbait, there’s no denying that it’s an appropriate use of the word, as we’re increasingly moving to…
PM Images The previous 12 months haven’t been kind to British American Tobacco (NYSE:BTI) as shares have declined -14.91%, and it’s been an even worse decade as shares have fallen -46.46%. The tobacco industry continuously finds itself under pressure as it’s synonymous with health risks and government regulations. Despite individual opinions, the facts are that…
josefkubes The last time I have covered 3M Company (NYSE:MMM) was back in November 2023, recommending investors to initiate long position in this global industrial conglomerate as the company was trading at a very cheap valuation and at the beginning of its long-awaited turnaround. Since that time the stock has delivered a total return on…
da-kuk REX FANG & Innovation Equity Premium Income ETF (NASDAQ:NASDAQ:FEPI) is a relatively fresh covered call ETF that was established back in November, 2023. Since the inception, it has managed to keep up with the well-performing S&P 500 delivering attractive distribution income from the written options. Ycharts During this time period, FEPI has even slightly…
8vFanI Introduction When you think of superstars in certain sectors whether it be tech, real estate investment trusts, or business development companies, there are certain names that instantly come to the minds of investors. And while those investments are great, finding those with the makings of a future superstar are always better because they normally…
Wicki58/iStock via Getty Images Introduction UMH Properties (UMH) focuses on owning and operating manufactured home communities. As of the end of last year, UMH owned and operated 135 manufactured home communities with a total of almost 26,000 developed homesites in several US states. UMH Investor Relations In a previous article, which was published in January…
8vFanI Business Development Companies, known as BDCs, have been reaping the rewards of higher interest rates over the past year and a half, due to the fact that their investments usually feature floating rates, while their borrowings have a high % of fixed rates. As you’ll see in the Earnings section of this article, New…
MF3d Introduction With the FED meeting over now and 3 rate cuts still on the table by the end of the year, I think now is the time to be buying stocks in one of my favorite sectors (XLRE), the REIT sector. Historically, they move in the opposite directions of interest rates, and they have…
PM Images The Neos S&P 500 High Income ETF (BATS:SPYI) is getting a lot of attention from investors as its assets under management (AUM) have grown from $314.37 million on 9/20/23 to $946.55 million over the past 6 months. Shares have been up 2.87% since 9/20/23, and the AUM has basically tripled. I added SPYI…
Prapat Aowsakorn/iStock via Getty Images Introduction WDP (OTCPK:WDPSF), formerly known as Warehouses De Pauw, is a Belgian REIT focusing on the development and leasing of logistical real estate assets. The REIT has always traded at a premium valuation and despite seeing the entire REIT sector being under pressure, WDP’s share price is still holding up…
Ivan-balvan Summary: BC Partners (“BCP”) created Portman Ridge Finance Corporation (“PTMN”) by purchasing several underperforming BDCs to sell off the Legacy investments and replace them with Core MM Loans to borrowers with EBITA between $25m – $50m (“Portfolio Optimization Process”); The Portfolio Optimization Process is almost completed with Legacy investment only making up 27% of…
anouchka The short interest in its common shares of Host Hotels & Resorts (NASDAQ:HST) grew to roughly 5.35% in February even as the largest hotel REIT reported a beat on revenue for its fiscal 2023 fourth quarter. Revenue of $1.32 billion grew by 4.8% over the year-ago comp and outperformed consensus by $30 million. The…
Yauhen Akulich/iStock via Getty Images Introduction On October 22, 2023, I wrote an article titled 2 Champs, 1 Winner: Energy Transfer’s 9% Yield Beats Enterprise Products’ 7% Yield.” Since then, Energy Transfer (NYSE:ET) shares have added roughly 7%, excluding dividends. After tremendous struggles during the pandemic and years with volatile oil and gas prices prior…
Spencer Platt/Getty Images News Introduction Bank of America (NYSE:BAC) is one of the largest financial institutions in the United States, and this banking giant with worldwide presence likely doesn’t need a lengthy introduction. While the common shares are well covered here on Seeking Alpha by a myriad of authors, I have been keeping an eye…
PM Images Capital appreciation is becoming polarizing again as NVIDIA (NVDA) delivered strong earnings, which led to a $110.66 (16.40%) gain today. Tech earnings are grabbing the spotlight again, as an overwhelming amount of commentary is focused on artificial intelligence. Watching companies such as Meta Platforms (META) and NVDA being propelled into all-time highs while…
Bilanol/iStock via Getty Images Introduction I have owned the preferred shares of Sunstone Hotel Investors (NYSE:SHO) for several years now as I think the (cumulative) preferred dividends offer an excellent stream of quarterly dividends that I don’t have to worry about thanks to the robust balance sheet of the REIT. Data by YCharts The recently…
Fokusiert Thesis Sometimes high-yielding funds prove to be only a mirage, driven by financial engineering gimmicks on the part of managers. Other times, especially in the high-yield world, they are truly supported distributions, with Western Asset Mortgage Opportunity Fund Inc. (NYSE:DMO) being such an example. The fund is a fixed income CEF focused on mortgage…
NurPhoto/NurPhoto via Getty Images Looking for a way to play high interest rates? The Fed seems to be digging in its heels on waiting to lower interest rates until later in 2024, contrary to what many Wall Street pundits had been predicting. One sub-sector that has benefited greatly from higher interest rates is the BDC…
Dilok Klaisataporn Business development companies deliver solid dividend yields to passive income investors. One BDC that I have owned for a while and that provides a high-yield as well as dividend growth is Golub Capital BDC (NASDAQ:GBDC). With the stock now selling for a 2% premium to net asset value, even the company’s robust net…
J Studios/DigitalVision via Getty Images Right before we entered February, the Fed delivered quite hawkish message relative to what was baked into the cake by the market. While it was not a surprise that there will not be any interest rate cuts now, the commentary on future decisions was not as accommodative as the market…
Hispanolistic The SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) invests across U.S. investment-grade corporate bonds with a maturity between 1 and 3 years. In this case, SPSB isn’t necessarily the most conservative bond fund in the market, but it can be a good alternative to cash or money-market funds. When thinking about bond funds,…
PM Images FS KKR Capital Corp (NYSE:FSK) delivered across the board for income investors over the past year. Business Development Corporation’s (BDC) are more common among income investors rather than investors focused on generating capital appreciation because BDCs must pay out at least 90% of their taxable income to shareholders in the form of a…
Anja W. Today, REITs (VNQ) are offering historically high dividend yields. That’s because over the past two years, their share prices have dropped significantly even as they kept growing their dividend payments: Data by YCharts NAREIT Higher dividend payments coupled with lower share prices result in higher dividend yields, and in some cases, the yields…
Dilok Klaisataporn PennantPark Floating Rate Capital (NYSE:PFLT) is a floating-rate focused business development company whose stock price skyrocketed lately. I think that floating-rate focused BDCs are going to have a much harder time to produce positive net interest investment income and dividend growth in a falling-rate environment and taking into account that PennantPark’s stock is…
DNY59 Utilities stocks came under significant pressure for most of 2023, as the Fed interest rate hikes knocked much-needed sense into over-optimistic investors. However, the battering in utilities stocks has also created opportunities for investors in late 2023 as the utilities sector (XLU) bottomed out. Accordingly, XLU bottomed out in early October 2023, well before…
DNY59 I’m always on the lookout for new and interesting fund strategies, and a reader recently pointed out the Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF (NYSEARCA:QDPL) as an ETF worth reviewing. The QDPL is an innovative fund that does not use traditional BuyWrite strategies or leverage to boost the fund’s distribution yield….
Sebastian Gorczowski/iStock via Getty Images Topline Summary and Update ImmunityBio, Inc. (NASDAQ:IBRX) is a late-stage developmental biotech trying to bring novel immunotherapy approaches for cancer treatment to market. Their first and biggest shot on goal is a combination therapy with BCG in patients with bladder cancer, with an FDA decision coming in April 2024. While…
tadamichi Thesis The Pioneer Diversified High Income Fund (NYSE:HNW) falls in the fixed income CEF asset class. We have covered this name before here when we put a buy rating next to the fund stating the following: The fund has a 30-day SEC yield in excess of 10%, which is 96% supported via net investment…
DKosig Alerian MLP ETF (NYSEARCA:AMLP) is a passively managed ETF that delivers exposure to energy infrastructure Master Limited Partnerships (MLPs) that earn the majority of their cash flow from midstream activities. The world is undergoing an energy transition from traditional carbon-based sources like coal, crude and natural gas to clean and renewable sources. Back in…
Scott Olson Procter & Gamble Company (NYSE:PG) has had a tough 2023, but the stock could be ready for a reversal heading into 2024. PG is one of the world’s leading fast-moving consumer goods companies, with 65 brands serving more than 5 billion consumers across all continents, yet, shares of PG have fallen 4.6% this…
M. Kaercher/iStock via Getty Images The broad collapse of preferreds from the Fed’s fight with inflation has created an intense opportunity to build positions in tickers with high dividend yields and significant capital growth potential wrapped within the safety of the quasi-fixed income instrument. Preferreds rank higher on a company’s capital stack than common shares…
Darren415 In this article, we take another look at the Western Asset Mortgage Opportunity Fund (NYSE:DMO) – a fund primarily allocated to residential mortgage assets. The fund just hiked its distribution once again – the third time in a row. We continue to hold a position in the fund in our High Income Portfolio. Fund…
JHVEPhoto Hudson Pacific Properties (NYSE:HPP) is a West Coast based real estate investment trust that specializes in the ownership of office buildings and sound stages. With the strikes in Hollywood hurting the business, Hudson Pacific cut its dividend earlier this year only to eliminate it in the following quarter. While the strike is over, after…
Nattakorn Maneerat Investors naturally become nervous whenever a stock is hitting new 52-week lows in a strong market. Ycharts In the Pharma industry sometimes exceptional booms and busts happen, including Pfizer’s (PFE) COVID vaccine sales boom, resulting in a 40% bear market when the bonanza ended. But I’ve been asked by several of our Investing…
tadamichi/iStock via Getty Images Against my expectations from last year, business development company Bain Capital Specialty Finance, Inc. (NYSE:BCSF) performed better than expected, which has led to the BDC’s stock sell for a lower discount to net asset value. The business development company profits from higher net investment income and debt yields in a rising-rate…
HeliRy Most income-oriented investors have been caught off-guard by the surge of inflation in the last two years, as inflation had remained suppressed for the past 15 years. High inflation erodes the real annual return of portfolios and their real value. Therefore, investors should do their best to protect the real value of their portfolios…
Olivier Le Moal Investment Thesis The iShares Core High Dividend ETF (NYSEARCA:HDV) offers an attractive 4.15% dividend yield and a low 0.08% expense ratio, two features crucial for income investors. While it’s been more than one year since I downgraded HDV based on my perception that energy risks were too high at the time, the…
Matthew Nichols/iStock Editorial via Getty Images Introduction Wells Fargo & Company (NYSE:WFC) is a well-known name in the U.S. banking landscape where it is considered a top-5 player in the financial services industry. Although the U.S. banking sector has faced some headwinds recently, the sector’s financial performance has held up better than I expected, and…
PM Images If there has been one thing that Medical Properties Trust (NYSE:MPW) has excelled at, it’s destroying shareholder value. In less than 2 years, shares of MPW have declined -82.16%, ended their consecutive dividend growth and reduced the dividend by -48.28%. Short interest remains above 20%, and nothing that MPW has implemented has reassured…
bin kontan National Health Investors Inc. (NYSE:NHI) is a senior housing and skilled nursing REIT. This sector, which was the rage pre-COVID-19, got into a lot of difficulties after March 2020. The sector faced challenges from the high levels of mortality inflicted by COVID-19 on its primary users. It also faced increased costs from maintaining…
Deagreez Last week, interest rates fell over 20 basis points and the stock market had the best week all year. Ycharts Stocks rallied 6% in a single week. That’s seven months of historical market gains in five days. But guess what? That’s the magnificent 7-driven U.S. market, not the global market, and certainly not all…
Korrawin/iStock via Getty Images Introduction Timbercreek Financial (TSX:TF:CA) (OTCPK:TBCRF) is a mortgage investment corporation which means it needs to distribute a certain threshold of its earnings to take advantage of the tax benefits for this type of corporation. As of the end of June, the total asset base contained just over C$1.1B in mortgages and…