AAIC - Rare 16% Discount To Book Remains

• CMO still trades at a large discount to projected book value. We’re estimating the current price-to-book is around 0.84. That’s a 16% discount.
• We frequently find trading opportunities in the common shares of the mortgage REITs where the market is applying different valuations to similar REITs.
• There are quite a few opportunities in the sector today, but CMO’s 16% discount to book is larger than most peers and provides some upside.
• In this series, we’re providing readers with discounts to trailing book values throughout the sector and a few notes on the current environment.
• When we provide an index card for an individual mortgage REIT or BDC, it includes our most recent estimate on book values.

For further details see: