RE:Recent NewsThe loan equates to just over 6% of the loan book. Would be a bitter pill to swallow if a good chunk of this had to be written off. Will be interesting to see how they value the loan in their next quarterlies.
At this point, I don't know if this is a good buying opportunity or not - a close to 10% yield on what has historically been a very stable stock. But this issue is likely to be an overhang on the stock for a while. What concerns me more is whether this is the canary in the coal mine, and other loans are approaching similar issues.
At present, I'm holding fire until the mid sixes.
retired234 wrote:
This might explain the recent drop in shareprice :
https://finance.yahoo.com/news/timbercreek-financial-comments-group-lection-120000952.html