What are you guys seeing that I don't ?
O.K. enough already , I need to know how you guys that think FTN is such a great stock to own arrive at that conclusion? A few of you guys even seem fanatical about this stock, like you've found the goose that lays golden eggs.
I would also like to know how you guys value this stock, ie when to buy/sell. And for that matter what posses you to buy at stock at $9.62 when it is only worth $7 a share are per Nov.30th NAV($10 is set aside for the FTN.PR.A). Yes I realize there is a huge dividend, but how do you reconcile that with the fact if the NAV drops another $2 you won't get any dividend? Then what is the pps worth?
I just don't get it, banks are down 5-6% (so current NAV is well below $17) this week and FTN only down %1.8.
I understand Quadravest’s various preferred’s as I'm promised $5.25% and know I'll get $10 back long after the common shares are worth whatever they will be once the dividend stops when the NAV is $15.
Please enlighten me as I've watched, been in and out of the various Quadravest products for years and have yet to figure out why people are willing to pay such a premium essentially for a dividend that could be cancelled when the NAV drops to $15. Take a look a DF, it's only pennies away from suspending the common share dividend which will likely happen this month. Yet people are still paying $6.80 a share.
I am sincere in my request to be enlighted and hear what I'm missing!