BCF Update: Solid Q1, Bond Offering & Market Outlook BCF Update: Solid Q1, Bond Offering & Market Outlook
- Strong Q1 Performance:
Just wanted to share some positive news about BCF. They reported a record revenue for Q1 thanks to higher lending rates. While EPS dipped slightly due to loan provisions, it still beat estimates.
- Financials & Portfolio Strength:
The good news continues with consistent dividends of $0.80 per share, offering a healthy 9.4% annual yield. It's also worth noting their portfolio appears less risky due to a focus on first mortgages and lower loan-to-value ratios.
- Bond Offering & Market:
BCF is exploring a $50 million bond offering, which could indicate a strong pipeline of future mortgages. Overall housing transaction volume is down recently, but property prices remain stable. We might see a pick-up in the second half if interest rates drop, potentially boosting demand.
*FRC provides issuer-paid coverage.
*Past performance is not indicative of future results.