Wednesday, August 29, 2007
I could be early. I usually am. but here are 5 names that are commercial lenders with very little exposure to the residential mess. They tend to hold their loans as opposed to trading, they have been beaten down in price worse than the orioles against texas last week and there is massive insider buying in the shares.All yield well north of 10% at current levels. While continued problems may cause some dividend cuts, I think most of them will continue their payouts at these levels.
Operates as a commercial lending, investment and asset management company that
focuses on the middle market. The company provides senior and subordinated
commercial loans, invests in real estate, engages in asset management and
servicing activities, and invests in residential mortgage assets.
STARS Ranking: **
2008 EPS estimate $2.37
2007 EPS estimate $1.90
2006 Reported EPS $1.65
Text JER Investors Trust ---(S&P) 08-13-07 Sym JRT
JER Investors Trust, Inc. (JERIT) operates as a specialty finance company in
the United States. It acquires and originates commercial real estate
structured finance products.
GSC Investment ---(S&P) 07-13-07 Sym GNV
Seeks to generate both current income and capital appreciation through debt
and, to a lesser extent, equity investments, by primarily investing in private
middle market companies. It has elected to be treated as a business
development company under the Investment Company Act
NORTHSTAR REALTY FINANCE ---(S&P) 08-09-07 Sym NRF
Operates as an internally-managed commercial real estate company that makes
fixed income, structured finance and net lease investments in real estate
assets. The company intends to qualify as a REIT.
STARS Ranking: ***
2008 EPS estimate $0.93
2007 EPS estimate $0.70
BRT Realty Trust SBI ---(S&P) 08-08-07 Sym BRT
BRT Realty Trust operates as a real estate investment trust in the United
States. It primarily engages in originating and holding for investment senior
and junior commercial mortgage loans secured by real property.
Announced 2Q EPS $1.88 vs. $0.48 and 6 mos. EPS $2.91 vs. $1.09. Results
exclude gains of $0.04 for 6 mos. '07, and $0.04 & $0.03 for 2Q & 6
mos. '06, from discont. opers. Results for 2Q & 6 mos. '07 include a
one-time gain of $15.3M from the sale of securities.