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Stephen Ryan

 
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  • Preferred Apartment Communities Short Thesis [View article]
    As a life lesson, I adhere to:

    It's okay to step on your d*ck. Just don't stand on it.
    Jul 12, 2014. 02:07 PM | Likes Like |Link to Comment
  • My Favorite Dividend Stock: Berkshire Realty Income [View article]
    No, they are completely separate--just a coincidence
    Nov 12, 2013. 09:52 PM | Likes Like |Link to Comment
  • Hannon Armstrong: Transition To Balance Sheet Financing Should Provide 20% Upside, 7.3% Yield [View article]
    Hey Tambo, the way around this is essentially based on the nature on power purchase agreements and Energy Savings contracts and the nature of third party project finance debt.

    In effect, HASI is financing the developer (for instance, Honeywell) not the government. For instance, with a power purchase agreement, all the government is doing is agreeing to buy power from HASI, rather than the utility. Since these projects are mostly EE upgrades, the power ws being purchased already, at a much steeper rate with outdated equipment. When HASI installs new equipment, the government saves money, and remunerates HASI by buying the power from HASI, rather than the utility.
    Oct 22, 2013. 04:04 PM | Likes Like |Link to Comment
  • Hannon Armstrong: Transition To Balance Sheet Financing Should Provide 20% Upside, 7.3% Yield [View article]
    I will have to search through the files in the HASI folder on my desktop. However, your 7.5% assertion could be more accurate as I remember some discussion of paying this out of core EPS of $.06 per share, which ultimately ended up at $.07 core eps in the six months?
    Sep 16, 2013. 09:30 PM | Likes Like |Link to Comment
  • World Acceptance: A Battleground Stock I'm Short [View article]
    Valuedriver, I really have no skin in the game either way..but the point of his article, or thesis seems to be; the company is a terminal short based on impending, or the possibility or regulatory crackdowns. In fact, he presented pretty reasonable evidence.

    To your point, his introduction reflects your point regarding the fundamental qualities of the company:

    "It has highly attractive financial characteristics and has grown strongly for many years, leading to exceptional stock performance."
    Sep 16, 2013. 06:22 PM | 1 Like Like |Link to Comment
  • An Investment Opportunity With 50%-Plus Potential: World Acceptance Corp. [View article]
    Hahaha, your comment made me crack up. I agree, I mean, you are totally right; they are pretty much a caricature of themselves. Predatory lenders..to the nth degree
    Sep 16, 2013. 06:08 PM | Likes Like |Link to Comment
  • Hannon Armstrong: Transition To Balance Sheet Financing Should Provide 20% Upside, 7.3% Yield [View article]
    Remember, I am not the one targeting a 7.3% yield, management is. That being said,managements targeted yield of 7.3% would be on the same basis as the IPO price.
    Sep 16, 2013. 01:48 PM | Likes Like |Link to Comment
  • Hannon Armstrong: Transition To Balance Sheet Financing Should Provide 20% Upside, 7.3% Yield [View article]
    Agreed. I wish I could have elaborated on that more as well, however, the article was going to be 20 pages had I done so. I also wish I could have elaborated a little more on the Sen. Cloom's MLP Bill for clean energy finance moving forward. Any insight on this?
    Sep 15, 2013. 05:55 PM | Likes Like |Link to Comment
  • Hannon Armstrong: Transition To Balance Sheet Financing Should Provide 20% Upside, 7.3% Yield [View article]
    Thanks Tom, I agree with your assessment that the company needs more publicity (for lack of a better word), or; a name that reflects clean energy a little better. Additionally, the company was a challenge for me to analyze (at least in terms of their investment finance model). However, I think they have some solid prospects moving forward. My one hope is that they don't get too caught up in hedging, which is kind of like Pandora's box considering the range of products they offer (Treasuries, or; commodities for PPA's could get very complicated)
    Sep 15, 2013. 04:35 PM | Likes Like |Link to Comment
  • Preferred Apartment Communities Short Thesis [View article]
    It went great, I covered at 7.55...Additionally, I didn't have to reimburse the lender because he did not miss dividends while I held the position. Thanks for your constructive criticism, but this trade worked out rather well for me.
    Aug 5, 2013. 09:50 PM | Likes Like |Link to Comment
  • HTA Is In The REIT Class That Teaches The ABCs Of The MOBs [View article]
    This is some very fine work. Sell side is horrible with medical REITs and you have provided som excellent data for construction and rent growth/comp. Very nice
    Apr 26, 2013. 12:37 PM | 1 Like Like |Link to Comment
  • CoreSite: A Data Center REIT Fairly Valued And Poised For Growth [View article]
    Oh man, I will have to look into it. I haven't had a position for some time.

    What I have observed: Consensus NAV is around $31 so it is, and has been trading at a premium to NAV for a while (after a lot of data center buzz) , it had a couple of downgrades recently based on price. It is a solid company, but I think it is a bit pricey at present, however; long term, it consistently increases NAV, and has reasonable mean reversion to the consensus NAV--my opinion... you have $3 downside risk, but a solid long term hold based on what I have observed.
    Apr 25, 2013. 12:51 AM | 1 Like Like |Link to Comment
  • Is Essex Property Trust An Intelligent REIT Or A Not So Intelligent REIT Investor? [View article]
    No, it is still the only considerable difference between the dividends. Qualified vs. unqualified, the very presence of cap gains ratio in REIT dividends proves the point I was trying to make.

    As I mentioned, you are essentially twisting my single statement to imply that you have some kind of insight. There are qualified and non qualified....everyone and their Nana understands there can be cap gains mixed in, but, as I mentioned before, if you could find a REIT distribution consisting of primarily cap gains quarter of quarter you would have something to write about. I win. Over and out.
    Apr 22, 2013. 05:34 PM | Likes Like |Link to Comment
  • 8x8 Inc: Compelling Acquisition Play Could Fetch Price Of $1 Billion [View article]
    Hahaha don't let some of these strange posters bother you. I like your articles and insight, keep them coming.
    Apr 21, 2013. 12:31 PM | Likes Like |Link to Comment
  • Is Essex Property Trust An Intelligent REIT Or A Not So Intelligent REIT Investor? [View article]
    Bro, I feel like you are trying to push a point that was settled in 1986 under the REIT modernization Act because you just discovered it, what is your point exactly? I don't understand how REITs are taxed lol? Yes, and perhaps you are Dr. Kovarkian.


    REIT dividends are taxed as regular income unless there is a capital gain distributed to unit holders...doesn't the entire investing universe already know that? ...regardless, you fill out form 1099? What new information do you feel like you are bringing to this? Your welcome.
    Apr 21, 2013. 12:26 PM | 1 Like Like |Link to Comment
COMMENTS STATS
167 Comments
84 Likes