Published Thu, 07 Mar 2013 16:59:37 -0500 on Seeking Alpha
I warned investors of the apparent overvaluation of Diana Containerships (DCIX) last month when the stock traded at $7 ($6.70 dividend-adj). In my article, I outlined my overall valuation approach and gave DCIX a price target of approximately $4.05. I emphasized that the dividend was not sustainable for the near future. In respect to market realities and the recent Q4-12 report, other analysts are also lowering their targets, albeit not as much, with a recent Jefferies note lowering the target to $7 (from $8). This article will offer commentary on the Q4-12 results, discuss the dividend impact of the new Sagitta charter, and provide target dates for interested investors.
Q4-12 Results & TCE
The most notable figure in the Q4-12 results is the jump in cash-breakeven TCE to $12,800, up from $11,900 last quarter. This jump appears to be primarily due to increases in operating expenditures.... Read more
Older articles featuring Dcix (DCIX):Stocks Trading Ex-Dividend on 5/21/2015
Is Diana Containerships' 15% Yield Too Much Good To Be True?
Avoid This High-Yielding Dividend Trap At All Costs
Stocks Trading Ex-Dividend on 5/31/2013
Double-Digit Dividend Yields Revisited
Stocks Trading Ex-Dividend on 11/30/2012
8 Sectors And Dow 'Septober' Dividend Dog Report
Stocks Trading Ex-Dividend on 8/14/2012
7 Stocks With Yields Over 10% Go Ex-Dividend Next Week
Dividend Power Scoops For 9 Top Dog Indices In May