AIC News and Press, Arlington Asset Investment Corp 6.750% Notes due 2025 From 03/22/22

Part 1 of this article compares NLY’s recent investment composition, leverage, hedging coverage ratio, quarterly BV, economic return (loss), and current valuation to 19 mREIT peers. My buy, sell, or hold recommendation, current BV projection (BV as of 3/18/2022), and updated pr...

One of the mortgage REITs has already announced a monster dividend cut. Don't expect that dividend to recover. Assigning ratings using target price-to-book value ratios continues to work. That's how we determined shares were a strong buy during April 2020. Since then, we hit the s...

We dropped one of our solid positions with an 11% yield. Shares were not overpriced, but we needed the capital. During our holding period, we earned over 11% in under three months. That’s even better considering the sector dropped during that time. The 8.6% yield came in wi...

We’ve got three shares on sale following a swift decline in their prices. Yields on these shares range from 7.3% to 11.3%. Big discounts to book value are showing up for some of the mortgage REITs, creating a much better risk to reward ratio. For further details see: ...

We take a look at the action in preferreds and baby bonds through the first week of March and highlight some of the key themes we are watching. March is shaping up to be another negative month - and seventh down month over the last nine. We highlight extension risk - the likelihoo...

We revisit the mortgage REIT AAIC which we highlighted about a year ago. The company has continued to maintain a strong risk profile and its bonds and preferreds still trade at attractive valuation despite strong returns. We continue to hold AAIC.PC and AIC across our Income Portf...

All 7 of these shares have dipped below our target prices. One of them was a terrible deal in late 2021, but that’s turned around. Similar fundamentals, vastly better price. We warned investors to swap out of the shares when they were overvalued, but the absurd valuations p...

The income market kicked off the year in a wobbly fashion - creating opportunities along the way. We discuss some of the initial lessons of the first two months. And highlight a number of ideas across tax-exempt CEFs, mREIT senior securities and BDCs. For further details see...

U.S. equity markets finished lower on another turbulent week as the Russian invasion of Ukraine triggered a historic surge in commodities prices and sparked a bid for safe-haven domestic assets. Now having declined in six of the nine weeks of 2022, the S&P 500 declined 1.3%, back ...

These are five undervalued opportunities which also happen to have high yields. We’re picking them based on fundamental valuation, not because the yield hit double digits. Dividend yield by itself is not fundamental valuation, no matter what somebody who got crushed by the ...