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No More Love For One Of These 12% Yielding REITs
Published Tue, 10 Nov 2020 01:43:46 -0500 on Seeking Alpha
Seeking AlphaREITsNo More Love For One Of These 12% Yielding REITsNov. 10, 2020 1:43 AM ET|| Includes: AAIC, AAIC.PB, AAIC.PC, AGNC, AGNCM, AGNCN, AGNCO, AGNCP, AIC, AIW, ANH, ANH.PA, ANH.PB, ANH.PC, ARR, ARR.PC, CHMI, CHMI.PA, CHMI.PB, CIM, CIM.PA, CIM.PB, CIM.PC, CIM.PD, CMO, CMO.PE, DX, DX.PB, DX.PC, EFC, EFC.PA, IVR, IVR.PA, IVR.PB, IVR.PC, MFA, MFA.PB, MFA.PC, MFO, MITT, MITT.PA, MITT.PB, MITT.PC, MORT, NLY, NLY.PD, NLY.PF, NLY.PG, NLY.PI, NRZ, NRZ.PA, NRZ.PB, NRZ.PC, NYMT, NYMTM, NYMTN, NYMTO, NYMTP, ORC, PFF, PMT, PMT.PA, PMT.PB, REM, TWO, TWO.PA, TWO.PB, TWO.PC, TWO.PD, TWO.PE, VNQ, WMCby: Colorado Wealth Management FundColorado Wealth Management Fund The REIT ForumThe #1 REIT Service Measured By Total ReturnsSummaryARR got way too cheap during the pandemic, but the sale is over. Share prices look pretty fair. Neutral outlook on ARR and a few others tossed in.
Investors may love the monthly dividend, but they’ve often misunderstood the REIT. We haven’t. We’ve nailed ratings on both sides for ARR.
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.
This research report was produced by The REIT Forum with assistance from Big Dog Investments.
Following reader feedback, we’ve enhanced the layout for this series. Your continued feedback is greatly appreciated, so please leave a comment with suggestions.
This article will be heavy on charts because we like to communicate with images, rather than words, whenever possible. Likewise, we will use several tables to more efficiently structure the data. Enjoy!
Mortgage REITs and Preferred Shares
We’ve consistently incorporated a significant allocation to preferred shares in our... Read more
| Stock name | Last trade | P/E | Earnings/Share | Dividend/Share | Dividend yield | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ORCHID ISLAND CAPITAL | 5.58 | 0.0 | -0.29 | 0.96 | 17.75 | |||||||
| CHERRY HILL MORTGAGE INVESTMENT | 13.52 | 0.0 | -3.91 | 1.60 | 14.40 | |||||||
| ANNALY CAPITAL MANAGEMENT | 8.60 | 0.0 | -3.32 | 1.20 | 14.00 | |||||||
| NEW RESIDENTIAL INVESTMENT | 14.98 | 18.0 | 0.83 | 2.00 | 13.28 | |||||||
| ANWORTH MORTGAGE ASSET | 3.39 | 0.0 | -0.98 | 0.44 | 13.17 | |||||||
| NEW YORK MORTGAGE TRUST | 6.14 | 12.0 | 0.51 | 0.80 | 12.74 | |||||||
| WESTERN ASSET MORTGAGE CAPITAL | 9.83 | 10.7 | 0.92 | 1.24 | 12.58 | |||||||
| AMERICAN CAPITAL AGENCY | 15.64 | 0.0 | -1.54 | 1.92 | 12.21 | |||||||
| DYNEX CAPITAL | 15.16 | 0.0 | -10.26 | 1.80 | 12.06 | |||||||
| ARMOUR RESIDENTIAL REIT | 17.26 | 0.0 | -9.30 | 2.04 | 12.03 | |||||||
| TWO HARBORS INVESTMENT | 13.28 | 0.0 | -2.81 | 1.60 | 12.02 | |||||||
| INVESCO MORTGAGE CAPITAL | 15.18 | 0.0 | -1.01 | 1.80 | 11.80 | |||||||
| AG MORTGAGE INVESTMENT TRUST | 17.47 | 6.1 | 2.87 | 1.90 | 10.89 | |||||||
| MFA FINANCIAL | 7.39 | 10.4 | 0.71 | 0.80 | 10.81 | |||||||
| CHIMERA INVESTMENT | 19.57 | 21.5 | 0.91 | 2.00 | 10.23 | |||||||
| ELLINGTON FINANCIAL | 17.90 | 16.3 | 1.10 | 1.68 | 9.44 | |||||||
| PENNYMAC MORTGAGE INV TRUST | 22.24 | 9.5 | 2.35 | 1.88 | 8.50 | |||||||
| CAPSTEAD MORTGAGE | 7.41 | 0.0 | -0.86 | 0.48 | 6.58 | |||||||
| ISHARES S&P US PREFERRED STOCK INDEX FUND | 37.21 | 0.0 | 0.00 | 2.08 | 5.60 | |||||||
| ISHARES FTSE NAREIT MORTG PLUS CAPPED INDEX FUND | 41.97 | 0.0 | 0.00 | 0.00 | 0.00 |