- Current Yield = 10.18%
- Price-to-book Ratio = 0.375
- Assets per unit = $1.562
- Debt per unit = $0.788 (including current liabilities)
- Gearing = 50.5%
Rickmer Maritime Trust has reported its results which is more or less the same as all the other quarters. They are distributing US 0.6 cents which translate to 10.18% yield which is quite good. Moreover, its price-to-book ratio is still at a very low rate of 0.375. Just note that they are vessels which depreciates a lot faster than properties in REITs.
Rickmer Maritime Trust (and some of other trusts) have run into problems earlier which result in negotiations to repay the debt slowly and having some conditions attached to it. My take is that whatever negative news and conditions has already been priced in. Therefore, this looks like a fair price.
Its yield look very promising so I am thinking of transferring some of my investment into this. But not too much as there is still risk involved.
I had a look at this counter but still decided not to touch. Bank loan amount and Chartered rate is the issue.
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