NYMT - Mortgage REITs Surging

2024-07-21 18:29:07 ET

Summary

• After a terrible start to the year, mortgage REITs are hot in July.
• Don’t tell ORC. They missed most of the rally. If only it was an opportunity to destroy book value. They're so good at that.
• Quick commentary on MAIN.
• Sharing our predictions for AGNC before earnings areannounced.

Brief article for this weekend. I want to cover some earnings projections for the mortgage REITs and BDCs.

We have some preliminary results from a few companies already.

Main Street Capital

We have Main Street Capital ( MAIN ) establishing a preliminary figure in the $29.77 to $29.83 range. Midpoint is $29.80. That's quite similar to our estimate of $29.90.

MAIN also previewed net investment income in the $1.00 to $1.02 range. That comes in very slightly under our projections and below the two prior quarters....

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