Seeking Alpha
13 Mar 2026, 20:30 UTC · 34w ago
PTY: I'd Still Be Overpaying Even At $12
Impact · against what's priced in
PTY is facing a high risk of price correction due to severe dividend coverage deterioration and a reliance on return of capital to maintain payouts. The fund's continued premium over NAV is unsustainable given that the current yield is unattractive relative to risk-free rates.
- PTY−0.80
No priced-in read yet
- In context
The three-month rolling NII coverage ratio has fallen to 60.4%, indicating that dividends are largely supported by returned capital rather than earned income.
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