Seeking Alpha

Tom Dorsey

 
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  • Insiders Buying At Western Asset Mortgage Capital
    Today, 6:25 PM WMC 2 Comments

    Summary

    • Insiders buying again, Spring of 2014 and Fall of 2013.
    • Strong quarterly dividend expected for Q3 2014.
    • Expect a bonus dividend for the catch up in Q4 2014.
  • Taking Goldman Sachs To The Bank
    Yesterday, 11:22 AM BAC, C, JPM 5 Comments

    Summary

    • Second Quarter’s financial report with net revenue beat expectations by 33%.
    • Number of outstanding shares compared to other big 5 banks supports value of the stock price.
    • Financials and liquidity strong for Basel III requirements.
    • Goldman Sachs likely to take advantage of foreign investment opportunities.
  • Bank Of America Raises Its Value For Investors
    Mon, Aug. 18 BAC 24 Comments

    Summary

    • BAC dividend jumps from $0.01 to $0.05 for Q2 2014.
    • One of the last major lawsuits to pay $16 billion.
    • Book value up, stock trading at a discount of 72%.
    • Anticipate the stock price to appreciate to near $17 per share by year-end.
  • Citigroup Moving Toward Strong Buy For Investors
    Fri, Aug. 15 C 27 Comments

    Summary

    • Citigroup settles RMBS during 2Q that shadows financial report.
    • Strong Book Value and lagging stock price sets stage for opportunity in 2015.
    • Citigroup has redeemed or retired $17.7 in debt securities.
    • Citigroup used $1.1 Deferred Tax Assets.
  • Not A Fan Of Fannie Mae And Freddie Mac
    Wed, Aug. 13 FNMA, FMCC 27 Comments

    Summary

    • Lawsuits are progressing through the courts. Positive strides for the investors, but far from winning their freedom from the government.
    • $5.4 billion in dividends from the Second Quarter, 2014 will be paid to the U.S. Treasury.
    • Expect increased regulations on GSEs and all financial companies.
    • Betting on Fannie and Freddie remain a high risk/high reward investment.
  • Disappointment, But Brighter Future For Alon USA Partners
    Tue, Aug. 12 ALDW, ALJ 6 Comments

    Summary

    • Disappointing sales and distribution of only $0.13 per unit (2.7% annualized yield).
    • Company completed upgrades at Big Springs Refinery in 2Q, which will increase production in 3rd and 4th quarters.
    • Crack spread for second quarter, 2014 was $16.42, down from $21.17 in second quarter, 2013.
    • Recommend a hold this quarter, as income and the distribution should increase over the next two quarters.
  • Orchid Island Is A Monthly Dividend Payer Of 15%
    Sat, Aug. 9 ORC 42 Comments

    Summary

    • Orchid Island Capital pays dividend of $0.18 per month for a 15.7% yield.
    • Second quarter earnings of $10.6 million, or $1.17 per share.
    • Look for catch-up dividend in 4Q, 2014.
    • Take the cash or reinvest the dividends.
  • American Capital Agency Corp. Grows Toward The Future
    Thu, Aug. 7 AGNC 13 Comments

    Summary

    • AGNC paid $0.65 for the 5th quarter in a row for an 11.23% yield.
    • Book Value rose $1.77 to $26.26 for a 9.9% increase for the quarter.
    • Portfolio is $71.9 billion and well managed.
    • AGNC is rated a buy and hold.
  • Double Digit Return In 30 Days With Western Asset Mortgage Capital
    Mon, Aug. 4 AGNC, ARR, CVRR 14 Comments

    Summary

    • Western Asset to release 2Q results and announce dividend on August 7.
    • Analyst expect dividend to remain the same $0.67 this quarter.
    • Buy the low now, and sell just prior to the ex-date for best return.
  • Here Is Why You Should Invest In Armour Residential REIT
    Mon, Aug. 4 ARR 11 Comments

    Summary

    • The quarter was profitable and provides more opportunities in the future.
    • Book value increased from $4.67 to $4.90 this quarter.
    • Over 14% yield to take the cash or reinvest the dividends monthly.
  • Double-Digit Return On CYS Investments Even Better
    Tue, Jul. 15 CYS 8 Comments

    Summary

    • CYS to pay dividend on July 16, 2014.
    • Dividend return 14% and opportunity to receive better return.
    • CYS stock price is down, and now is a great buy-in opportunity.
    • Interest Rate Risk effects and profitability.
  • Investment In Armour Residential REIT Nets Profitable Double-Digit Gains
    Mon, Jul. 14 ARR 18 Comments

    Summary

    • ARR confirms $0.05 for third quarter dividends.
    • Dividend over 14% and reinvesting dividends goes higher.
    • Core Income was strong in first quarter and positive through second quarter.
    • ARR expected to release second quarter financial report in August.
  • Atlas Resource Partners Going Ex-Dividend On July 2, 2014
    Wed, Jul. 2 ARP 6 Comments

    Summary

    • Distribution will be paid on July 15 of $0.1933 per unit, buy after July 3.
    • 47 Mmboe deal previously announced is completed for long term production goal.
    • ARP has an interest in over 12,000 producing wells.
    • Oil Price increases are good for cash flow and bottom line distributions.
  • Price Entry Point For CVR Refining For Double-Digit Earnings
    Tue, Jul. 1 CVRR 56 Comments

    Summary

    • CVRR’s unit price is the lowest of the quarter.
    • CVRR will announce their next distribution in mid-August and we assess near $1 per unit.
    • No effect on the distribution from the public sale of 6.5 million common units.
    • Two investment methods that will earn you a double-digit return on your investment.
  • Interest Rate Increase Not Likely During 2014
    Tue, Jun. 24 AGNC, ARR, FMCC 7 Comments

    Summary

    • Federal Reserve to continue decreasing bond purchases.
    • Federal Reserve’s primary position is to protect the economy.
    • Interest rate will rise in the future, just to create new opportunities.
  • 4th Strong Quarterly Dividend By American Capital Agency Corp.
    Sun, Jun. 22 ACAS, ACSF, MTGE 30 Comments

    Summary

    • Dividend payout of $0.65 for the last 4 quarterly dividends – double digit return on investment.
    • Investors have only 4 days to buy in if they want to receive the dividend this quarter.
    • The stock is trading at a discount, with book value at $24.51 and the stock at $23.73.
    • Recommend a buy and hold for this solid dividend producer.
  • Western Asset Pays Another 18% Dividend For Q2 2014
    Sat, Jun. 21 WMC 41 Comments

    Summary

    • Dividend of $0.67 with ex-dividend date of June 26, 2014.
    • Earnings report due in August, first quarter beat estimates by $0.36.
    • Company estimates Book Value at $15.44, up $1.25 from first quarter.
    • 4 key leaders have purchased stock in June 2014.
  • Enduro Royalty Trust Should Be In Your Portfolio
    Fri, Jun. 20 NDRO 31 Comments

    Summary

    • 25 additional wells coming on-line to increase revenue.
    • Expected increase in distributions throughout summer months.
    • Anticipate unit price to increase for the rest of 2014.
  • Dynex Capital Pays Strong Dividend, Offers Positive Outlook For Second Half Of 2014
    Thu, Jun. 19 DX 4 Comments

    Summary

    • Second Quarter Dividend of $0.25 for an 11.7% yield.
    • Dynex Capital is small REIT, but positioned to maintain double-digit return.
    • Company offers DRIP with a 3% discount.
    • Stock price appreciation expected in second half of 2014.
  • More Insider Trading Purchases By Western Asset Mortgage Capital Corp.
    Sun, Jun. 8 WMC 1 Comment

    Summary

    • Investors get boost of confidence by CIO purchase.
    • WMC participated in the KBW Mortgage Finance Conference on June 3.
    • 2 methods of gaining an 18% return.
  • CYS Investments: Another REIT With Core Earnings Up And Increasing Book Price
    Thu, Jun. 5 CYS 8 Comments

    Summary

    • We anticipate strong dividend for the second quarter.
    • We anticipate stock price will continue to appreciate through 2014.
    • It has seen its book value increase, and is still at discount of .93.
  • Citigroup Is Getting Stronger Each Quarter, Expect Stock Appreciation In 2015
    Tue, Jun. 3 C 8 Comments

    Summary

    • Citigroup's strong first-quarterly report was stymied by Banamex.
    • Citigroup completed repurchase of common stock for 2014, but expect more debt reduction with the excess cash.
    • Citigroup to continue applying DTAs to enhance quarterly reports.
    • Citigroup is a buy and hold recommendation for a two to five year gain.
  • Strength In ARMOUR Residential REIT's Portfolio - May 2014 SEC Filing
    Mon, Jun. 2 ARR 23 Comments

    Summary

    • ARMOUR holds over $16.7 billion in fixed rate securities and $192 million in ARM and hybrid securities.
    • Leverage ratio has climbed to 8.2x to 1, as the company target is 8x to 9x to 1.
    • ARR continues to repurchase common shares.
    • Recommend ARR as a buy and hold long-term investment.
  • The Next Double-Digit Dividend REIT Is Orchid Island Capital Inc.
    Mon, Jun. 2 ORC 8 Comments

    Summary

    • Orchid pays $0.18 per month dividend for 16% return.
    • Orchid book value dropped 1Q, 2014 $0.93 to $12.47.
    • Hedging Investments pulled bottom line down.
    • Recommend finding best price to buy in, then hold for long-term cash flow.
  • Alon USA Partners Returns To Double-Digit Distributions
    Thu, May. 29 ALJ, ALDW 15 Comments

    Summary

    • ALDW’s first quarter’s throughput at 105%.
    • Transportation cost low for crude and final products.
    • Big Springs Refinery capable of all crudes from West Texas area.
    • Expect the company to continue double-digit returns.
  • Atlas Resource Partners Expands Operations
    Wed, May. 28 APL, ATLS, ARP 5 Comments

    Summary

    • ARP has purchased over $2 billion dollars' worth of oil and gas reserves since 2012.
    • ARP sold $100 million in unsecured notes and $40 million in common units in May 2014.
    • ARP has negative earnings per share.
    • APR changed to a monthly distribution, and still pays over 10%.
  • CVR Refining Unit Price Is At Its Lowest This Quarter
    Tue, May. 27 CVRR 13 Comments

    Summary

    • Best time to buy into a company is after the ex-dividend date when the unit price drops.
    • CVRR production at both refineries is up, along with income and profits.
    • CVRR has strong projections for 2014.
  • Buy And Hold New York Mortgage Trust With A Dividend Over 13%
    Mon, May. 26 NYMT 21 Comments

    Summary

    • First quarter dividend was $0.27, anticipate an increase this year.
    • First quarter financial report displays strong growth in interest income.
    • Federal Reserve holding interest rates low stabilizes housing and mortgage markets.
  • Good Time To Buy And Hold ARMOUR Residential REIT
    Mon, May. 26 ARR 31 Comments

    Summary

    • Financial statement strong on earnings and dividend over 12%.
    • Downside included reduction in book value and an increase in the leverage ratio.
    • Bottom line puts cash in your pocket - buy and hold.
  • Western Asset Stock Price Is At The Buy Point For This Quarter
    Sun, May. 18 WMC 20 Comments

    Summary

    • WMC moved toward a hybrid REIT model that was less profitable, but much safer in the market place.
    • Another $2.35 dividend is less likely, but continued dividends near .60-.70 is anticipated.
    • Buy WMC now at the low point in the market.
    • 2 Investing options to profit in WMC.
  • Now Is The Right Time To Consider Northern Tier Energy
    Fri, May. 16 CVRR 14 Comments

    Summary

    • NTI’s business fundamentals are strong and productive.
    • Income and profits provide cash to pay double-digit dividends.
    • Best 2 methods to reap the benefits of dividend stocks.
  • Solutions For Fannie And Freddie's Future, But Profits Still Go To The Government
    Thu, May. 15 FNMA, FMCC 33 Comments

    Summary

    • No timeline for a resolution will continue to push all profits to federal government.
    • Congress halts efforts on bills for mid-term elections.
    • 20 lawsuits continue with no end in sight.
    • Investor hopes spur the buying and selling.