RE:RE:FTN unit nav to Nov 23 @ $22.54 before dist.PileOfShit wrote: To derive class A NAV from combined NAV between dividend declaration and the day before ex-date, we have to subtract not only the preferred NAV, but also the preferred dividend. FTN class A NAV = 22.54 - 10 - 0.056 = 12.48. Discount to class A NAV = 12 ÷ 12.48 - 1 = -3.9%.
Again your calculation does not include the monthly distributions to commons for FTN .. which is .1257, and the simplest calculation is , UNIT NAV - 22.54 - total distributions .. which is 18 cents =
22.36- 10 $ for preferreds = 12.36 for commons.