I first entered this position in March 2013. The entry post was here.
Over this period, i received $340 worth of dividends.
The Company announced on 6 Feb that it is going to dispose the majority of its properties.
The announcement is here.
Since the main investment thesis of mine was to achieve a yield of 7%-8%, the divestment means that the original thesis is no longer valid as the Company will not be able to receive a stable income. There is also uncertainty in how the sale proceeds will be divested.
In this regard, i sold my position in Second Chance today. The return (including the yield) in IRR terms is around 18%.
Happy SRSing.
Over this period, i received $340 worth of dividends.
The Company announced on 6 Feb that it is going to dispose the majority of its properties.
The announcement is here.
Since the main investment thesis of mine was to achieve a yield of 7%-8%, the divestment means that the original thesis is no longer valid as the Company will not be able to receive a stable income. There is also uncertainty in how the sale proceeds will be divested.
In this regard, i sold my position in Second Chance today. The return (including the yield) in IRR terms is around 18%.
Happy SRSing.
...
