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Albert Alfonso

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  • American Capital Agency Corp.: The Dividend Now Looks Quite Sustainable [View article]
    goldenbear65,

    I do apologize for the confusion. Perhaps my title should have added "short-term" to make it more inline with my thoughts.

    "Sustainable" has no implication on the long-term aspect of the dividend, but rather deals with if the company is generating enough income to maintain the dividend at the current level.

    AGNC obviously generated enough income over the past 3 months to maintain the dividend at $0.65 for the quarter. I think we will see this reflected in the Q1 report.

    For Q2, things are looking bright given that the company is not selling its MBS portfolio to buy back stock.
    Mar 22 05:35 PM | Likes Like |Link to Comment
  • American Capital Agency Corp.: The Dividend Now Looks Quite Sustainable [View article]
    wriskit,

    We will not know AGNC's net spread or net interest income until the Q1 report. However, assuming the company has not reduced its exposure to MBS, it should be generating similar income compared to Q4 2013.

    As for my comment regarding the dividend: forecasting mREITs dividends out more than a few months is nearly impossible. I am just making sure readers know that the quarterly dividend can and does change greatly. Remember it was at $1.25 only one year ago...
    Mar 21 08:37 PM | Likes Like |Link to Comment
  • A Genius Move By American Capital Agency Corp [View article]
    That is not really a fair comparison. mREITs own highly liquid assets that can be sold at a moment's notice.
    Feb 11 11:48 AM | 1 Like Like |Link to Comment
  • A Genius Move By American Capital Agency Corp [View article]
    It is already happening. Every mREIT I follow has announced some form of buyback.
    Feb 11 11:23 AM | Likes Like |Link to Comment
  • A Genius Move By American Capital Agency Corp [View article]
    The size of the positions needs to reach a certain percentage before disclosure is required.
    Feb 11 11:21 AM | 3 Likes Like |Link to Comment
  • Has American Capital Agency Finally Turned The Corner? [View article]
    tstreet,

    AGNC makes the most money when interest rates are stable for long stretches of time. This was the situation in 2011 and 2012. Hopefully interest rates can stay at this level for all of 2014.
    Feb 6 04:11 PM | Likes Like |Link to Comment
  • American Capital Agency Corp.: Yet Another Dividend Cut [View article]
    SPS50,

    AGNC is very unlikely to issue equity while the stock is under book value.
    Dec 20 02:32 PM | 2 Likes Like |Link to Comment
  • American Capital Agency Corp.: It Could Have Been Worse [View article]
    worst case: Higher short term rates compared to Long Term. And/Or, Treasuries yields well below MBS yields.

    Best Case: Flat rates with wide spreads, little to no price movement in MBS market
    Aug 1 01:16 PM | 4 Likes Like |Link to Comment
  • American Capital Agency Corp.: It Could Have Been Worse [View article]
    AGNC is making money, but losing BV in the process. Maybe they should up the share buybacks?

    Mr. Kain's team is probably the best in the mREIT sector. That they got crushed means that this BV decline was coming like it or not.
    Aug 1 01:12 PM | 2 Likes Like |Link to Comment
  • American Capital Agency Corp.: It Could Have Been Worse [View article]
    You know, I consider my mREIT holdings as sorta a hedge for my long positions as they tend to trade in opposite directions.

    I think that once the fed gets out of the MBS market than some normalcy will set in.
    Aug 1 01:10 PM | 2 Likes Like |Link to Comment
  • American Capital Agency Corp.: It Could Have Been Worse [View article]
    This risk was totally artificial and caused by the fed. Its telling that every levered REIT, be them agency, hybrid, or even commercial, got smacked.
    Aug 1 01:07 PM | 2 Likes Like |Link to Comment
  • American Capital Agency Corp.: It Could Have Been Worse [View article]
    I probably will not sell until the stock trades closer to BV. Hopefully this volatility in MBS prices will end soon. I think taper is to start next month.
    Aug 1 01:06 PM | 1 Like Like |Link to Comment
  • American Capital Agency Corp. Reports A Nightmare Quarter [View article]
    Hi,

    MBS prices dropped yet interest rates stayed put. Hedges that would have softened the decline did not kick in. It was an anomaly -- prices have recovered as the recent economic data has been... lackluster.

    The net spread held up during the quarter and actually increased if you include the TBA income.
    May 5 09:24 AM | 1 Like Like |Link to Comment
  • American Capital Agency Corp. Reports A Nightmare Quarter [View article]
    Hi,

    I actually bought some MTGE on Friday in the AH. It also suffered a decline in BV, but not as much as AGNC.
    May 5 09:19 AM | Likes Like |Link to Comment
  • American Capital Agency Corp. Reports A Nightmare Quarter [View article]
    Hi,

    That was the post-election drop that nearly every high yield stock suffered due to fears about changes to tax law.
    May 5 09:17 AM | Likes Like |Link to Comment
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