MFO News and Press, MFA Financial Inc. 8.00% Senior Notes due 2042 From 12/19/20

U.S. equity markets extended their vaccine-driven rally despite the ongoing stimulus stalemate as encouraging vaccine developments, strong housing data, and a dovish Fed lifted equity markets to fresh records. Finishing just below its intra-week record-highs, the S&P 500 gain...

PMT has substantial exposure to mortgage production. That’s been a positive factor for them during a period of high production. Investors used to like that about PMT, then became disappointed when the company only released exceptional results. Expectations were out of control. ...

Investors starting on the sector should begin by learning about some of the simpler mortgage REITs. Ones focused on agency MBS are usually simpler. We’ll bring out a high-risk pick with substantial upside today. GPMT is a commercial REIT with a price-to-estimated-book below .60...

Today we're going to focus on mortgage REITs investors already missed the boat on. These mortgage REITs have a few things in common. They rallied dramatically and deserve a neutral rating after the huge returns they gave shareholders. In this series we're providing readers with th...

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’...

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 ...

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. ...

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...