- We see another BDC where the price is pushing up close to trailing book value.
- The share price has hardly ever exceeded trailing BV in the last 6 years. So that doesn’t look like a good starting point.
- The book value per share has generally trended downward since early 2015. While Q1 2021 was a nice time for credit risk, the long-term risk/reward profile looks poor.
- Investors willing to close out positions could find several positions with a better risk/reward profile.
- We're bearish on AINV as the total return prospects look poor, but the risk looks significant.
For further details see:
An 8% Dividend Yield To Reject