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$5.87 360 capital mortgage reit

Ann: Fund Update, page-5

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Alee26

2,341 Posts.

262

21/06/23

11:38

Post #: 68396083
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Originally posted by gerling: ↑

Hi Alee,
I am feeling the opposite. On one hand, yes, they are good at getting repaid. On the other hand.... that is TWICE now in the past 12 months that mgmt has had the opportunity to close thing down, and repay ALL cash to unitholders (including themselves at 18% ownership).
Continuing to reinvest into new loans (net 7% yield to us). Would have the result of taking 1.8 years to distribute the same income as they could other wise distribute in 1 month if they wound things up.
I.e. share price at $5.15 (and distributions of 42 cents pa.).... vs an immediate return of $5.94.

Of course they have to forgo the (paltry) mgmt fee if they did this. But hey, sometimes its nice to deliver some value for shareholders?

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You're absolutely right but it won't happen. Can't agree more with your opinion.

TCF Price at posting: $5.22 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $5.87		Change -0.030(0.51%)		Mkt cap ! $24.24M

Open	High	Low	Value	Volume
$5.89	$5.89	$5.87	$15.28K	2.602K

Buyers (Bids)

No.	Vol.	Price($)
1	100	$5.87

Sellers (Offers)

Price($)	Vol.	No.
$5.88	1998	1

View Market Depth

No.	Vol.	Price($)
1	100	5.870
1	3274	5.820
1	3000	5.800
1	2000	5.760
1	8000	5.700

Price($)	Vol.	No.
5.880	1998	1
5.890	24398	1
5.900	14133	3
5.960	1900	1
5.970	9536	1

Last trade - 14.26pm 09/10/2024 (20 minute delay)

TCF (ASX) Chart

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