Yield10 Bioscience, Inc. (Nasdaq: YTEN)
Q4 2016 Earnings Conference Call
March 22, 2017, 16:30 ET
Lynne Brum - VP, Planning & Corporate Communications
Oliver Peoples - President & CEO
Kristi Snell - VP of Research & CSO
Welcome to the Fourth Quarter Financial Results Conference Call for the Yield10 Bioscience. [Operator Instructions].
I would now like to turn the conference over to your host, Yield10 Vice President of Planning and Corporate Communications, Ms. Lynne Brum.
Great, thank you, Tim and good afternoon, everyone. Welcome to Yield10 Bioscience year-end 2016 conference call. Joining me on the call today are President and CEO, Dr. Olly Peoples; Vice President of Research and Chief... more
Since its 1997 IPO, Annaly Capital Management (NYSE: NLY) has proven to be the hands down, best-performing residential mortgage REIT or mREIT you could own.
NLY Total Return Price data by YCharts
And while that impressive track record certainly makes this high-yielding dividend stock worthy of consideration, at the same time, investors need to realize future returns are likely to be far lower.
10 Year Treasury Rate data by YCharts
That's due to the likely end of the 35-year mega-rally in bonds, in which interest rates have steadily decreased; increasing the value of its residential mortgage assets.
With interest rates set to continuing rising in the coming years that means that Annaly's management is going to have to evolve the business model in order to... more
The Dividend Dogs Rule
The "dog" moniker was earned by stocks exhibiting three traits: (1) paying reliable, repeating dividends, (2) their prices fell to where (3) yield (dividend/price) grew higher than their peers. Thus, the highest yielding stocks in any collection became known as "dogs." More specifically, these are, in fact, best called, "underdogs."
FTSE Russell states:
"The Russell Indexes are a family of global equity indices that allow investors to track the performance of distinct market segments worldwide."
"Using a rules-based and transparent process, Russell forms its indexes by listing all companies in descending order by market capitalization adjusted for float, which is the actual number of shares available... more
By New Deal Democrat
Since the mid-1950s, an inverted yield curve has been perhaps the single most deadly harbinger of a recession in the next 1-2 years. The most typical measurement has been the spread between 10-year and 2-year Treasuries:
Typically, these inversions have happened because the Fed raised interest rates in an effort to tame inflation deemed to be high. Thus, because we are in a very low inflation and interest rate environment, I suspect this version of the yield curve is one of the most likely long leading indicators to fail to signal before the next economic downturn. Most notably, the yield curve between short-term and long-term bonds never inverted at all between 1931 and 1954, as indicated by calculating the spread of the archival "long-term... more
Subscribers to The Mortgage REIT Forum had early access to this article.
Lately I've been getting more requests from investors for a piece explaining the interest rate risk on preferred shares. There certainly is some interest rate risk, but it comes from two sources. One is that the preferred share prices reflect yields on the securities, and higher interest rates on bonds indicate higher rates on preferred shares. The other is that theoretically a mortgage REIT could go under and default if the rate movements were extreme enough. While credit risk is important, I don't see much risk of that happening to any mortgage REIT invested entirely or mostly in agency securities. If the securities are adjustable rates, such as agency ARMs (adjustable rate mortgages with agency... more
The pharmaceutical industry is built around a very unique business model. Pharmaceutical firms spend hundreds of millions or even a billion dollars on research and development for a single drug with the hopes that, if approved, the 20-year patent will provide secure, high margin cash streams for years. The nature of this model gives large drug companies, such as Pfizer (NYSE: PFE) a large competitive advantage. Pfizer is able to leverage its huge infrastructure - financial resources, human resources, product diversity, distribution network, etc. - to weather the long-cycle development process. This infrastructure allows Pfizer to generate attractive cash flow streams that investors can count on.
I view Pfizer as a stable, long-term investment that will generate strong dividend income... more
At their quarterly meeting today, the Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP), declared quarterly dividends on the Company’s Class A Common Stock and Common Stock. The dividends were declared in the amounts of $0.265 for each share of Class A Common Stock and $0.235 for each share of Common Stock. The dividends are payable April 14, 2017 to stockholders of record on March 31, 2017. The dividends were unchanged from the previous quarterly rates and represent the 189th consecutive quarterly dividend on common shares declared since the Company began operating in 1969.... more
(Author's note: NagaCorp's US OTC listings have highly limited liquidity. The Hong Kong exchange listing, 3918.HK, has substantially better volume).
The story hasn't really changed all that much for NagaCorp (OTCPK: NGCRF) (OTCPK: NGCRY) over the past few years. The operator of a casino in Phnom Penh, Cambodia, continues to be a secondary play on gambling demand from China, and Asia more broadly. New developments, including a retail center and the so-called "Naga2" expansion, could drive profit increases, as could the company's entry into Vladivostok in Siberia.
At the same time, risks - macro, political, and a possible increase in the casino's extremely low tax rate - abound. Competitive concerns persist, as both Japan and Vietnam move toward... more
LTC Properties (NYSE: LTC) is a monthly paying healthcare REIT focused on senior healthcare paying a growing dividend. It is priced at a good value based on its dividend stream.
What did I think last time?
I first wrote about LTC on November 21st in this article. I liked that they had a good history of growing the dividend and could support that dividend with growing FFO (a better measure of REIT profitability than earnings). Paying that dividend monthly gives it just an extra little boost in performance to go along with a psychological boost from seeing a payment every month. Healthcare in general and senior healthcare in particular are growing markets with lots of opportunities and LTC looked to me like a good company in that market.
Because LTC isn't rated by any of the... more