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Agency MBS is an investment with very low credit risk. Several mREITs focus on this sector and will benefit from low interest rates. It's common for these REITs to have more cash than their outstanding preferred equity – providing very large cash and asset coverage. We ...
Flying under-the-radar during Election season, a frenzy of real estate earnings reports over the last three weeks have provided critical information on the state of the commercial real estate sector. Roughly two-thirds of the 170 equity REITs in our coverage universe beat consensus FF...
PMT and NRZ are both in our bullish range and in our portfolio. These REITs don’t just service mortgages, they also originate mortgages. As you may have heard, mortgage origination is a great business today. Discounts to book value (or NAV) are the start of your mortgage RE...
We just purchased shares in one of the worst performing mortgage REITs, and we’re excited to share that news. The discount to book value is staggering and is particularly rare among the residential mortgage REITs. Discounts to book value (or NAV) are the start of your mortg...
U.S. equity markets plunged by the most since March this week as a strong slate of economic data and corporate earnings was overwhelmed by pre-election jitters and amplified coronavirus concerns. A cascading wave of lockdowns across Europe rattled global equity markets while narrowing...
Risk is still high, but we’ve got quality mortgage REITs at substantial discount to book value. We don’t advocate going “all in,” but investors should be building positions. NLY, PMT and NYMT each demonstrate a substantial discount to book value. Each has o...
Did the rent get paid? We're at the halfway-point of another newsworthy REIT earnings season. Results thus far have been better-than-expected as dividend cuts have given way to dividend boosts. After 63 equity REITs and 32 mortgage REITs cut dividends in Q2, just three REITs have anno...
MFA faced a very tough 1Q environment and the experienced management team managed through the situation extremely well. MFA Financial sells at about 40% below its reported book value. Book value was scrubbed following the 1Q Mortgage REIT debacle and is thus a fair representation of a...
November's U.S. exchange-traded monthly-paid (MoPay) dividends, upsides, and net-gains: 1. Stocks by-yield (70); 2. Stocks by price-upside (30); 3. Closed-End-Investments, Exchange-Traded-Funds & Notes (CEICs/ETFs/ETNs) by-yield >8.25% (80). The U.S. MoPay equity population gre...
Q3 2020 is producing some strong results on mortgage REIT earnings. Core EPS, Net Interest Spread, and Net Interest Margins expanded significantly. When the latest wave of COVID-19 cases calms down, investors should be getting excited about earnings. Discounts to book value (or NA...
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Dynex Capital, Inc. ("Dynex" or the "Company") (NYSE: DX) reported its second quarter 2024 financial results today. Management will host a call today at 10:00 a.m. Eastern Time to discuss the results and business outlook. Details to access the call can be found below under "Earnings Conference Ca...
Smriti Laxman Popenoe promoted to Co-CEO, remains President and Chief Investment Officer Rob Colligan promoted to Chief Operating Officer, remains Chief Financial Officer Industry veteran Harman Sahni joins Dynex as Chief Technology Officer Dynex well-positioned for contin...
Dynex Capital, Inc. (NYSE: DX) announced today that it will release its financial results for the second quarter 2024 before market open and will host a conference call and live audio webcast to discuss its financial results at 10:00 a.m. ET on Monday, July 22, 2024. Webcast Details T...