- DX, PMT, and NRZ were highlighted in our latest portfolio update. These mortgage REITs are more attractive than most, but recent rallies prevent bullish ratings.
- DX had a more favorable price-to-book ratio than NLY or ARR. The long-term metrics provide additional support for that idea. NLY sits in the neutral range.
- There are still some significant risks in the sector and many of the mortgage REITs carry a bit too much price.
- We were looking to purchase shares of PMT-C in early September, but the shares rallied a bit too soon. Congratulations to the readers who picked up the cheap shares.
For further details see:
Mortgage REIT Mismatches