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ANH - A 12.6% Yield And Big Discount To Book Makes Anworth A Buy
Anworth Mortgage Asset Corporation
Anworth (ANH) looks like the cheapest mortgage REIT in the sector today. Shares still trade at a significant discount to our estimated current book value (slightly up compared to 12/31/2019). Few of the mortgage REITs trade at comparable discounts today. We aren’t predicting that ANH’s portfolio will outperform, we are predicting that the gap in price-to-book-value will shrink. That’s enough to reach a bullish rating here.
Trading Mortgage REITs
Investors who want to find long-term buy-and-hold positions should check out our articles on preferred shares and equity REITs. You won’t find buy-and-hold recommendations