Trapping Value is a team of analysts with over 40 years of combined experience generating options income while also focusing on capital preservation. They run the investing group Conservative Income Portfolio in partnership with Preferred Stock Trader. The investing group features two income-generating portfolios and a bond ladder. Analyst's Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 h ...

Core Insights - Colliers International Group Inc. reported strong financial results for the second quarter of 2025, with consolidated revenues of $1.35 billion, an increase of 18% year-over-year, and net revenues of $1.19 billion, up 16% [4][5][7] - The company's diversified business model, particularly in its Engineering division, has contributed to its outperformance, with all three growth engines—Real Estate Services, Engineering, and Investment Management—showing solid momentum [7][8] - The company has raised its annual outlook for 2025, anticipating low-teens percentage revenue growth, mid-teens Adjusted EBITDA growth, and mid to high-teens Adjusted EPS growth [14][15] Financial Performance - For the three months ended June 30, 2025, revenues were $1,347.6 million, compared to $1,139.4 million in the same period of 2024, reflecting an 18% increase [20] - Adjusted EBITDA for the second quarter was $180.2 million, up 16% from $155.6 million in the prior year quarter [4][20] - Adjusted EPS increased by 26% to $1.72 from $1.36 in the prior year quarter [4][20] Segment Performance - Real Estate Services revenues totaled $785.4 million, up 4% year-over-year, while Engineering revenues surged 67% to $436.0 million, driven by acquisitions and strong internal growth [10][11] - Investment Management revenues remained flat at $126.1 million, with net revenues down 7% due to prior year catch-up fees [12] - The Engineering segment's Adjusted EBITDA increased by 145% to $46.3 million, showcasing significant margin expansion [11] Strategic Initiatives - The company announced the rebranding of its Investment Management division to Harrison Street Asset Management, enhancing its global recognition [7][8] - Colliers completed the acquisition of a 60% stake in RoundShield Partners, expanding its capabilities in credit, student housing, and hospitality [8] - The leadership team was expanded with key appointments aimed at scaling the platform and unlocking new opportunities [8] Recurring Revenue and Cash Flow - Over the past 12 months, 71% of the company's earnings were derived from recurring revenues, indicating a stable revenue base [6] - The company achieved a free cash flow conversion rate of 98% of adjusted net earnings, aligning with its performance targets [6] Updated Outlook - The updated outlook for 2025 reflects year-to-date operating results and the impact of completed acquisitions, with expectations for continued growth despite macroeconomic uncertainties [14][15]

Core Insights - AMG reported a 15% growth in Economic Earnings per share for Q2 2025 compared to the same quarter last year, driven by effective capital allocation and strong business momentum [2][5] - The firm experienced net client cash flows exceeding $8 billion, primarily due to record inflows into alternative investments, reflecting robust private market fundraising and increasing demand for liquid alternative strategies [2][5] - AMG's Affiliates managing private markets and liquid alternative strategies generated approximately $33 billion in net client inflows in the first half of 2025, highlighting ongoing demand for specialized strategies [3][5] Financial Highlights - As of June 30, 2025, AMG's Assets Under Management (AUM) reached approximately $771 billion, up from $701 billion a year earlier [4][8] - For the three months ended June 30, 2025, AMG reported net income of $84.3 million, an increase from $76.0 million in the same period of 2024 [4][14] - Economic earnings per share for Q2 2025 were $5.39, reflecting a 15% increase from $4.67 in Q2 2024 [4][15] Capital Management - In Q2 2025, AMG repurchased approximately $100 million in common stock, bringing total share repurchases to about $273 million for the first half of the year [5][6] - The company announced a cash dividend of $0.01 per share, payable on August 25, 2025, to stockholders of record as of August 11, 2025 [6] Strategic Partnerships - AMG formed a new partnership with Montefiore, a leading European private equity firm, further diversifying its business and enhancing its presence in private markets [3][5] - In 2025, AMG announced four new partnerships with firms managing approximately $24 billion in alternative strategies, underscoring the demand for AMG's unique approach [3]

Core Viewpoint - The press release provides shareholders of Cohen & Steers Closed-End Opportunity Fund, Inc. with details regarding the distribution to be paid on July 31, 2025, and cumulative distributions for the fiscal year to date [1] Distribution Policy - The Fund has a managed distribution policy implemented in December 2021, aiming to deliver long-term total return potential through regular monthly distributions at a fixed rate per common share [2] - This policy allows the Fund to realize long-term capital gains throughout the year and distribute them regularly, although it can be amended or terminated by the Board of Directors [2] Distribution Sources - Monthly distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital for federal income tax purposes [3] - Return of capital reduces a shareholder's tax basis in their shares and is not taxable [3] Distribution Estimates - For July 2025, the estimated distribution per share is $0.0870, with the following breakdown: - Net Investment Income: $0.0264 (30.34%) - Net Realized Short-Term Capital Gains: $0.0070 (8.05%) - Net Realized Long-Term Capital Gains: $0.0536 (61.61%) - Return of Capital: $0.0000 (0.00%) [6] - Year-to-date cumulative distributions for 2025 total $0.6090 per share [6] Fund Performance - The Fund's Year-to-date Cumulative Total Return for fiscal year 2025 (January 1, 2025, to June 30, 2025) is 8.33% [9] - The Cumulative Distribution Rate for the same period is 4.90% [9] - The Average Annual Total Return for the five-year period ending June 30, 2025, is 11.79%, with a Current Annualized Distribution Rate of 8.41% [10]

Core Viewpoint - The press release provides shareholders of Cohen & Steers Quality Income Realty Fund, Inc. with details regarding the distribution to be paid on July 31, 2025, and cumulative distributions for the fiscal year to date [1]. Distribution Policy - The Fund has a managed distribution policy since December 2012, aiming to deliver long-term total return potential through regular monthly distributions at a fixed rate per common share [2]. - This policy allows the Fund to realize long-term capital gains throughout the year and distribute them regularly, although it can be amended or suspended by the Board of Directors [2]. Distribution Sources - Monthly distributions may include long-term capital gains, short-term capital gains, net investment income, and/or return of capital for federal income tax purposes [3]. - Return of capital reduces a shareholder's tax basis in their shares and is not taxable [3]. Distribution Estimates - For July 2025, the estimated distribution per share is $0.0800, entirely from net investment income, with no contributions from capital gains or return of capital [6]. - Year-to-date cumulative distributions amount to $0.5600 per share, with 30.08% from net investment income, 29.63% from net realized short-term capital gains, and 40.29% from net realized long-term capital gains [6]. Performance Metrics - The Fund's year-to-date cumulative total return for fiscal year 2025 is 4.42%, with a cumulative distribution rate of 4.34% [9]. - Over the five-year period ending June 30, 2025, the average annual total return is 9.88%, and the current annualized distribution rate is 7.44% [10]. Tax Reporting - Shareholders will receive a Form 1099-DIV for the calendar year to report distributions for federal income tax purposes [7][11].

IVZ currently has a forward P/E ratio of 12.15, while TPG has a forward P/E of 28.82. We also note that IVZ has a PEG ratio of 1.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TPG currently has a PEG ratio of 1.48. Another notable valuation metric for IVZ is its P/B ratio of 0.65. Investors use the P/B ratio to look at a stock's market value versus its book value, which is def ...

About Harrison Street Asset Management Acquisition strengthens Harrison Street's European platform and expands credit, student housing and hospitality capabilities CHICAGO and TORONTO and GENEVA and LONDON, July 30, 2025 (GLOBE NEWSWIRE) -- Harrison Street Asset Management ("Harrison Street") the investment management division of Colliers (NASDAQ, TSX: CIGI), today announced the acquisition of a majority stake in RoundShield Partners ("RoundShield"), a leading European credit investment manager with $5.4 bi ...

Group 1 - The Conservative Income Portfolio targets value stocks with high margins of safety and aims to reduce volatility through well-priced options [1] - The Enhanced Equity Income Solutions Portfolio is designed to generate yields of 7-9% while minimizing volatility [1] - Trapping Value, with over 40 years of combined experience, focuses on generating options income and capital preservation [3] Group 2 - Prospect Capital Corporation (NASDAQ: PSEC) was previously rated with a hold recommendation, suggesting investors consider alternatives like Covered Calls and Preferred Stock Trader [2] - The Covered Calls Portfolio aims for lower volatility income investing with an emphasis on capital preservation [2] - The fixed income portfolio focuses on acquiring securities with high income potential and significant undervaluation compared to peers [2]

FHI currently has a forward P/E ratio of 11.17, while CNS has a forward P/E of 24.45. We also note that FHI has a PEG ratio of 0.87. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CNS currently has a PEG ratio of 2.40. Another notable valuation metric for FHI is its P/B ratio of 3.59. The P/B is a method of comparing a stock's market value to its book value, which is defined as to ...

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