Seeking Alpha
View as an RSS Feed

Joe Eifrid  

View Joe Eifrid's Comments BY TICKER:
Latest  |  Highest rated
  • Buy Annaly Over American Capital Agency? [View article]
    Not speaking for the author, but sometimes it takes a day or two to get published from the time the article is submitted.
    Aug 17, 2013. 04:07 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Just a heads up... MITT-A and MITT-B go ex-div on the 28th. First ones of the dividend cycle.
    Aug 16, 2013. 08:19 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Bankruptcy? Probably file Monday...lol! No, seriously...CYS-B is yielding right at 9%. I don't normally think BK risk until yields reach 20% or more. That indicateds real fear. CYS-B and most the other mREIT preferreds are yielding about 8.5% to 9%, so CYS-B is not out of line. What we have is those wanting to sell finding few buyers and the industry faces much uncertainty. However, I think the preferreds are falling more in sympathy to the common. High yield is yielding 6.5%. Dang, even MFA's exchange traded SENIOR debt is yielding a bit more than 8%. Also, CYS-B volume today was just 75% of the last 30 day average. Me? I think the market has it wrong on the preferreds. I know, the market is never wrong, but it does get irrational at times. If you are thinking bankruptcy, then you have to think the whole industry is going bankrupt if you are using price action as an indicator. Even the mortgage CEF are showing charts that rhyme.

    Keep in mind that CYS-B is a fairly newly issued preferred. Being new it's holders will typically have weaker hands. I bought some CYS-B today. I got to think 9% yields are close to a bottom.
    Aug 16, 2013. 07:56 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    "I contribute to Quantumonline because they have helped me immensely"

    Me tooo! I love that site and make sure I send a contribution yearly if not more.
    Aug 14, 2013. 09:48 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    RNP about 50% into equity REITs. 47% in preferreds. Looks more like a equity investment and not debt (mortgage). That's fine, although as interest rates go up, they will not be as popular IMO. Suddenly SPG's 2.9% yield doesn't look so yummy. The last two dividends, 42% of the 30 cents quarterly was return of capital. I don't like to see that and probably why they are selling at a hefty discount to NAV.
    Aug 14, 2013. 09:46 PM | Likes Like |Link to Comment
  • PennyMac prices secondary offering; shares off 4.1% [View news story]
    Thanks! I don't know why I didn't read the press release.
    Aug 14, 2013. 09:26 PM | Likes Like |Link to Comment
  • PennyMac prices secondary offering; shares off 4.1% [View news story]
    PMT goes ex-div tomorrow. Do all these new shares sold today get the dividend? Does anyone know? I would seem they would, no?
    Aug 14, 2013. 10:38 AM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Fidelity is wrong. That 39 cents is just for a partial quarter after the recent IPO.
    http://bit.ly/UPACHN
    Aug 13, 2013. 12:56 PM | Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    39 cents was the first partial quarter dividend. That is where he probably got the .39. You are right, .46875 is the quarterly.

    Baller, I think you picked up 50 cents for my comment. I was referring to MITT-B's divy.
    Aug 13, 2013. 12:45 PM | 2 Likes Like |Link to Comment
  • A Stable 8.3% Yield For Income Investors [View article]
    Yep, the mREIT preferreds are hidden gems. Thanks for the article. One may want to look at MITT-a and MITT-b. They go ex-div end of month and still sporting yields here higher than others reporting later.
    MITT-b is selling here at 23.41 for a yield of 8.52. The 50 cent quarterly dividend should goes ex-div about the 28th. Taking that into consider gives an yield of 8.73%. MITT is a hybrid non-agency REIT.
    Aug 13, 2013. 11:45 AM | Likes Like |Link to Comment
  • FastCompany: AmazonFresh a "Trojan horse;" 20 more markets expected [View news story]
    The problem with AMZN ever being a truly profitable company worthy of its valuation is that they think they can do at no cost to the bottomline. Services come at a cost, and right now AMZN is not passing that total cost on to the customer. They can only do that so long. I love AMZN's service and I am sure they can grow sales as long as they are not making profits. How long the market let's them get away with that is anyone's guess.
    Aug 12, 2013. 08:35 AM | Likes Like |Link to Comment
  • FastCompany: AmazonFresh a "Trojan horse;" 20 more markets expected [View news story]
    "Amazon is also hoping its same-day infrastructure (replete with Amazon trucks)"

    Dang...now adding (they say investing in) a fleet of trucks to their excuses for not making a profit?? Then they will be making deliveries for others and suddenly we have the next UPS - another low margin business. http://bit.ly/13cQVZs

    "Amazon is now able to ship items less than 2.5 hours after an order is placed;"
    I just placed two orders that qualified for free shipping and it took a week to get it. I do not have prime membership. I wonder if you use the $25+ free shipping option if they delay shipping to try to get you to sign up for Prime? Other orders have come quicker.
    Aug 11, 2013. 09:27 PM | Likes Like |Link to Comment
  • Q2 Bond Market Mess Produces Book Value Loss And Possible Dividend Cut For American Capital Agency Corp. [View article]
    Good read, Thanks!!
    Jul 31, 2013. 01:10 PM | Likes Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Not that many shares short. Yahoo showing 2.4% of float and a short ratio of less than 1, so plenty of volume to absorb. I think there is still much uncertainty about dividends going forward, and the analyst were not falling over themselves trying to upgrade. Hopefully the FOMC will have some helpful comments in their statement tomorrow.
    Jul 30, 2013. 05:54 PM | 1 Like Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Scott, Most excellent analysis!! Thanks!
    Jul 29, 2013. 04:08 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
342 Comments
372 Likes