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We've got 3 shares up for comparison. Two good choices and one poor choice. You can look at it from different angles, but it still won't look good. Investors are taking more risk for a lower yield. If you're in the wrong share, it would be prudent to upgrade. Get ready for...
We're highlighting a 10% yielder (rounded) set to smash some 13% to 16% yielders. No, it's not NRZ / RITM. I covered that a week ago. We have a different share to highlight this time. Bold Prediction: I'm calling the 10% yielder to outperform four different shares. If this was ran...
The heading refers to the number of times I had holes made in my Baby Bonds/PFDs ladder due to Calls and the trades I had to do to fix it. The biggest "trades" during the quarter were the ones I failed to pull the trigger on. These “mistakes” are covered. I have deci...
Pricing between the different series of NLY preferred shares is absurd. NLY-G values are much too close to NLY-F and NLY-I. Investors in NLY-G can get a dramatically better risk-adjusted rate of return by swapping to NLY-F or NLY-I. The payback period on the upgrade is less than t...
Buying preferred shares isn't hard. It's a great technique to find some attractive risk-adjusted returns though. Many investors don't get the trick to it. You want to buy before the price goes up. That way you can be in a positive unrealized total return. If you entered correctly,...
Prospect Capital Corporation (PSEC) Q2 2021 Earnings Conference Call February 10, 2021 11:00 AM ET Company Participants John Barry - Chairman & CEO Grier Eliasek - President & COO Kristin Van Dask - CFO Conference Call Participants Finian O'Shea - Wells Fargo Securities Robert Dodd - ...
REITs often issue new shares to grow. The impact to existing shareholders depends on the valuation management can get for issuing shares. When DX recently issued shares, it was a textbook example of reading the environment. New issuance should be common for the mortgage REITs trad...
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Our largest position in the common shares of a mortgage REIT right now is CMO. We’re bullish on CMO and see the potential for shares to rally as they currently trade at an unusually large discount to book value. We’ve discussed CMO with readers before and we’v...
As predicted, IVR issues new shares. You can’t be surprised, we told you on 1/26/2021 that IVR should be looking to issue shares. Shares of IVR just closed at $4.01, which is about equal to management’s stated BV range for 1/31/2021 of $4.00 to $4.10. We remain beari...