2024-06-11 19:00:04 ET
Summary
- John's annual income is forecasted to grow by 6.3% and 12.4% year-over-year in his Traditional and Roth IRAs, respectively.
- John closed his position in Bank OZK.
- There were a total of seven companies that increased their dividend or paid out a special dividend during the month of April in John's Retirement Portfolios.
- Look to re-establish positions in OZK if shares fall below $35/share.
The purpose of this series is to review the real investment portfolios of my retirees John and Jane to gain perspective on how their portfolio is performing (month-to-month) while also discussing the process behind why we are making certain changes to their portfolio. I started this series to give readers an opportunity to better understand how John and Jane's portfolios are evolving over time and I include historical results that show where the portfolio has been while also incorporating a dive into investments we are looking to add/trim/eliminate from the portfolio. It is important to note that the investments of interest to add/trim/eliminate can apply to all three of the portfolios that fall under this series.
Closing John's Position In Bank OZK
Following the theme of the previous month's article, we made the decision to dispose of the remaining position in Bank OZK ( OZK ) as we trim back exposure to the banking industry. The negative sentiment towards OZK truly began in June 2018 and was entirely focused on concerns about the performance of the real estate specialties group (RESG) portfolio after a few troubled loans defaulted. My last coverage of OZK was Bank OZK: A Sober Review Shows The Concerns Are Priced In goes back to December 2018 when I rated the stock as a buy after the share price was slashed by 53% from the start of 2018 to the end....
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For further details see:
John's April 2024 Retirement Income Update: Closing Our Position In Bank OZK