- Some mortgage REITs are trading at significant premiums to book value per share. When that happens, issuing new shares is wise.
- One mortgage REIT already took advantage of favorable pricing to issue new shares. That’s intelligent and expected.
- IVR and MITT should be looking for any opportunity to issue new shares. That may be more difficult around earnings. Bearish outlook on IVR and MITT.
- In this series, we’re providing readers with 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.
For further details see:
Time To Pump Out New Shares