Cohen & Steers Tax-Adv Pref Secs and Inc Fund V.PTA

Primary Symbol: PTA

The Funds primary investment objective is high current income. The Funds secondary investment objective is capital appreciation The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in a portfolio of preferred and other income securities issued by U.S. and non-U.S. companies, which may be either exchange-traded or available over-the-counter. In pursuing its investment objectives, the Fund seeks to achieve favorable after-tax returns for its shareholders by seeking to minimize the U.S. federal income tax consequences on income generated by the Fund. There can be no assurance that the Fund will achieve its investment objectives.

NYSE:PTA - Post by User

Cohen & Steers Tax-Adv Pref Secs and Inc Fund > Shlinker you don't make any sense to me.

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Comment by cocomgon Jul 15, 2013 4:46pm

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Post# 21608719

RE:RE:Shlinker you don't make any sense to me.

Let me explain why I think Hegemonicoblivion, Rapidfire and Shlinker are all getting it wrong:

Let's strat with Hegemonicoblivion:
Ending cash at dec. 2012 was about $26,7 MM.
Assume an avergae of 6000 boepd for the entire 2013 with an operating netback of $72 that is about $157,7MM. We should have about $14,4 MM in Depletion and depreciation and another $15,3 in General and administration. We get an EBIT of $128MM. Then $3,3 on interest and $43,7 on taxes.
The net income for the 2013 should be arround $81MM.
Now the cash flow...add back the $14,4 MM in Depletion and depreciation and substract $70MM of capex and $2,4 of the notes payables...
We get a ending cash position for dec 2013 of about $23MM + $26,7 MM at the beginning = $ 49,7, let's round it up to $50MM. Next year capex should be near to $100MM so you ain`t have the cash left to pay any divindens but neither you need to raise more cash!! You should get the other 50% of capex easily with the cash that will be generated during 2014.

Sorry no divs for you hegemonicoblivion!

I will continue with Shlinker:
As I stated you don`t need to raise more cash. If some is needed (I don´t think so) you can get a credit facility to do that. Please remember that the cost of debt is lower than the cost of equity...ask Rapidfire he studied in Chicago!
Share rollbacks or reverse splits what ever you want to call them usually tend to drift back down the price level near the original price.
As I see it having so much float is an insurance agains hostile take overs.
Take it easy...the reverse split ain´t happening, it is totally insane in this market conditions, Management ain´t stupid and the don`t need any.
or are you saying the management is a bunch of insane people??

Sorry no dilution for you shlinker!!

Now Rapidfire:
Its all about timming and a good price. Today`s market condition don`t favor us in a take over.
It is obvious any of us will be happy if someone buy our company tomorrow for $1 - $2. I kwow I will, but the sole idea of being bought at less than $1 for now is really against shareholders best interest.
You know that, you studied in Chicago....forecast the cash flow!

Sorry no M&A for you rapid!!

Now we wait..be patience
Cheers

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