Post by
mouserman on Dec 05, 2022 5:34pm
BK unit nav to DEC 5 = approx: $21.07
SPREADSHEET showed a loss of 30 cents since the NOV 30 update.
Last sale @$13.27 means a premium of $2.20 on the commons or about 19.8 %.
Considering the safety in BK , not a bad valuation, but also not a bargain imo.
Next distribution will ( to be paid in January) will be 16.835 cents per share. Average sale price in the last 3 days of November was $13.468.
Comment by
HermannHaller on Dec 07, 2022 11:20am
The pref shares, with this latest move up in the prime rate, will now yield 7.9% (based on current offer price of $10.08). That's a pretty juicy yield for something with an asset coverage of over 200%.
Comment by
mouserman on Dec 07, 2022 3:08pm
It is good allright... FFN preferreds are quite beat up at this point as well, but dont have quite the coverage BK has. Yield on the FFN preferreds today is just around 8.2%. today with the last trade @$9.46.