A small MREIT PMC Commercial Trust (PCC) released their earnings yesterday. Apparently they specialize in "SBA 7" loans. They have been around since 1993 and were profitable for at least the last three years.Last week we talked about Starwood (STWD) selling for a 20% premium to NAV.PCC is selling with a 40% DISCOUNT to NAV. I am sure there is some good reason(s) why this is, but in my quick look, I did not notice it. Obviously there is only one Barry Sternlicht and one Mike Farrell and neither one of them works for PCC.If someone wants to take the time, there is some percentage chance there is small diamond there . . .Link to PCC Q4 report:http://www.pmctrust.com/earnings/12_2010_q4trust.pdfThanks,Yodaorange
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