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.

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Cohen & Steers Tax-Adv Pref Secs and Inc Fund > Fair price and future of PTA with Brent Crude at 60-65?

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Comment by HedgieTdoton Dec 09, 2014 3:50pm

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Post# 23211965

RE:RE:RE:RE:RE:Fair price and future of PTA with Brent Crude at 60-65?

Point taken on strip vs. spot, however strip isn't actually a very good predictor of future spot.

"$10 a barrel in G&A for a non-operated (as of now anyway) company with probably a dozen employees and only 3 mil a year in interest expense? Seems on the high side.eems on the high side" re G&A? The light bulb has just gone on? It's in the financials, it's not me making this stuff up. The costs of management to make poor capital allocation decisions with shareholders money in this enterprise are shocking.
Q3 was $5.3 million dollars. That's just shy of $10 /bbl. ($9.80). That's BEFORE one time costs they pissed away on buying Suroco which were nearly $8 million.
Yes it's high. Yes you should be concerned. As an extreme example, Peyto produces almost 80,000BOE/d and spends less per quarter on G&A.

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