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 > Logic in a DEAL

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Post by cocomgon Feb 04, 2015 2:32pm

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Post# 23395871

Logic in a DEAL

Brent @ $70
- 20% royalties
- $23 opex
- 30% taxes
= $23

$23 X 2P (11MM) + $60M cash - $30M debt / 875MM shares = US 0.33 per share, CAD 0.41

Brent @ $80 then US 29 per 2P Value US 0.40 per share, CAD 0.50
Brent @ $90 then US 34 per 2P Value US US 0.47 per share, CAD 0.59
Brent @ $100 then US 40 per 2P Value US 0.54 per share, cad 0.68

NO BRAINER

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