AIW News and Press, Arlington Asset Investment Corp 6.625% Notes due 2023 From 12/05/20

New York Mortgage Trust was one of our strongest “Strong Buy” recommendations. After rallying 95%, it’s trading within the reasonable range. Since shares are no longer hilariously undervalued, we’ll go back to a neutral rating. In this series we’...

AAIC common shares are not investable at this time. Their baby bonds, however, seem like good value plays. It's easy to see why the market has discounted the bonds, but the risk is reasonable. The issues are most suitable for those with an appetite for junk bonds. ...

We often focus on the mortgage REIT common shares in this series, but this time we’re going to emphasize the preferred shares. We provided readers recently with a fairly large article demonstrating the dramatic difference in the valuation of the AGNC preferred shares. Despi...

We can finally drop to a neutral outlook on ANH. Shares are up about 40% since late October. We're grateful for this opportunity to be right - again. We’re seeing far more REITs trading at reasonable valuations today. It was weird being stuck in a bullish stance on most of the ...

Arlington Asset Management faced headwinds before the pandemic hit. The mREIT has maintained its preferred share dividends throughout the crisis. I favor one preferred share issuance over the other. For further details see: Arlington Asset Management's Preferred Shares A...

Bearish ratings on mortgage REITs? Sure, we’ll go bearish on MITT and ORC. Price-to-book ratios are way too high compared to peers. Nothing wrong with ORC except the share price. Investors are getting blinded by the dividend, but they could get a better deal on similar REITs. ...

On 10/26/2020, AGNC reported results for the third quarter of 2020. AGNC reported comprehensive income of $732 million and a non-tangible BV as of 9/30/2020 of $16.84 per common share. In this article, I will discuss my previous account projections versus actual results. I will also d...

Mortgage REITs are putting on a massive rally over the last week or two. That’s great as several have been severely undervalued. It wasn’t that long ago that we had almost nothing but bullish ratings. Today, we have several lower ratings. Discounts to book value (or ...

U.S. equity markets climbed to record-highs this past week on positive trial results for a COVID-19 vaccine, a potentially major breakthrough hailed as a "great day for science and humanity." Adding to its 7% post-election surge, the S&P 500 gained 2.3% this past week to...

We were pretty bullish on TWO lately, but shares rallied into the neutral range. Shares of ORC outperformed to the extent they ended up in our bearish range. Discounts to book value (or NAV) are the start of your mortgage REIT analysis, but not the end. In this series weȁ...