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Standard Merchantile Acquisition Corp Cl A T.TZS

Trez Capital Senior Mortgage Investment Corp engages in the mortgage brokerage and investment management business. It focuses on residential and commercial short-term bridge financing. The company offers private and institutional investors opportunities to participate in high yield mortgage investment funds and individually managed portfolios. The company provides the commercial real estate developers with short-term financing on projects. Its portfolio includes residential, retail, and industri


TSX:TZS - Post by User

Comment by ArbProfiton Jan 13, 2017 4:57pm
156 Views
Post# 25706665

RE:RE:Return of Capital

RE:RE:Return of Capital
Pandora wrote:

You were right -- news yesterday, next special distribution in February a return of capital.

Not sure what happened with the last one -- does the share price then take a dip?
 


Yes, once it goes ex-dividend, the stock will drop accordingly.  As you probably know, they are winding up the fund, so all capital will eventually be returned to shareholders (less any costs or possible losses).  I expect the process to be complete mid-2018, unless they're able to selloff the rest of the portfolio.  The next number I'm looking for is the remaining net asset value.  We'll get a Dec.31st number when Q4 earnings are released, and we can estimate the current  NAV at that time.  It was $7.00 at the end of Q3, and will have declined somewhat from paying out more each month than they're earning, as well as from the special distribution.  
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