Value Microcaps Motherboard

[MRothaus]

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<As a REIT, they are required to pay out 90% of their earnings in dividends. I notice that their earnings are $4.26 and the payout is $5.60.>

This is precisely the reason that NFI is so undervalued. You are looking at GAAP earnings, when the dividend is based on taxable income (which is much higher). There is a saying in the MREIT world: "GAAP is CRAP"

MREITs are all being blown out of the water by the increasing interest rates. NFI is the baby being thrown out with the bath water. They will be one of the few REITs that will not cut their dividend. They can't, if they want to maintain REIT status and conform to IRS regulations. There is a lot more info on www.nfi-info.net.