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Is There a Chink in the Armour of the Market's Biggest Dividends?
Published Tue, 08 Nov 2011 19:42:55 GMT on The Motley Fool
The company reported estimated taxable REIT income of $31.3 million, but on a GAAP basis, Armour reported a loss of $34.5 million. The discrepancy was due largely to an unrealized loss in the company's derivatives of $65.8 million. Armour, like the rest of the mortgage REIT industry, endured a volatile quarter due to a variety of factors. Potential regulatory reforms, the ongoing European crisis, Operation Twist, and the revamped HARP rules had many mortgage REIT investors on edge. But Armour noted that less than 2% of its holdings are eligible for the revised HARP program, meaning it has little exposure there.... Read more