Weekly Series: mREIT And BDC Recommendations (And Price Targets) As Of 02/23/2025, PMTV added to coverage, RC rebuttal

We aim to retain the same layout from week to week. I hope that makes it easier to find the parts that are most relevant to you.

Weekly Notes From Colorado Wealth Management Fund

Positions: 0 trades this week.

Note: We skipped the weekly update one week ago. During that week I had one small trade. I published a real-time trade alert and closed out my position in MFAO (MFAO) at $25.09 per share on 2/12/2025.

Commentary: I added PMTV (PMTV) to the Google Sheets. Risk ratings and targets. This is a new baby bond from PennyMac Mortgage Trust (PMT). I think the market has the valuation about right. It’s sitting inside the neutral range. I would want a bit more yield to get excited about it. The coupon rate is good, but shares quickly bounced to trade at a premium.

There was a negative article about Ready Capital (RC) on Seeking Alpha. Scott Kennedy provided a rebuttal. I think that’s the thing most readers will find interesting this week, so I stuck an image at the start of that section. It says “RC Rebuttal”. I would've published it already as a separate article, except it was Friday afternoon. Since the market was going to be closed anyway, I am just wrapping it into this email.