- Discounts to book value (or NAV) are the start of your mortgage REIT analysis, but not the end.
- In this series, we’re providing readers with the discounts to trailing book values throughout the sector and a few notes on the current environment.
- When we provide an index card for an individual mortgage REIT, it includes our most recent estimate on book values.
- We’re giving buy ratings on PMT and CHMI since they each trade at substantial discounts to book value. The magnitude of the discounts isn’t warranted.
- Today's selloff on the excitement about the Supreme Court doesn't reflect a significant change in fundamentals for residential mortgage REITs.
For further details see:
Supreme Court Selloff Drives Mortgage REIT Bargains