NMM - Prince Navios?: 8.5% Distribution Yield Covered More Than 4x Last Quarter
Navios Maritime Partners (NMM) generated enough operating cash flow to cover their 2¢ per quarter distribution more than four times over last quarter. An 8.8% distribution yield covered more than 4x is extremely attractive (DCF yield = 36%). As are shares trading at less than 1/3 estimated NAV value (shares 90¢, NAV $2.91).
I only wish I could stop the story there; it would be a fairytale investment. Unfortunately, such things don't exist in real life. Instead we need to ask ourselves just what kisses from Mrs. Frangou (CEO of Navios family), are