2023-04-17 08:00:00 ET
Summary
- Mortgage REIT AAIC recently put out its Q4 numbers, and we take the opportunity to review them.
- The company has had an impressive book value track record since the end of 2020 due to its conservative stance and opportunistic SFR investment.
- With the sale of its SFR portfolio and nearly complete hedging of the Agency book, the company is running an extremely low-risk portfolio, making its senior securities very attractive.
- We recently rotated from the preferreds to the AIC baby bonds.
For further details see:
AIC: Decreasing Risk With Increasing Yield For This 9.4%-Yielding Bond