I took one elephant and measured its height. I now know the height of every elephant. To think one store speaks for the entire company is a sore misstep.
Everyone is entitled to their own opinion, the author makes a few good points. One of the most powerful sources of stock performance is confidence in the management, which many investors in OPK have. I'd really love to know where you are in at, because honestly I'm thinking of picking up some shares for a quick gain next week.
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
I was speaking of mREITs in general not just agency mREITs. I think it is ok to compare a company like NLY to a company like TWO who is a hybrid that invests in agency and non-agency backed securities. On the bright side it looks like their earnings have hit the floor and will likely grow barring anything bad happening. Thanks for your kind words.
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
Of course they do not own the company as they are public. CIM is externally managed by FIDAC a subsidiary of NLY. "The team that manages Annaly plays the same roles at FIDAC" coming straight off their website. So this means that the same people running CIM is the same people running NLY.
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
I'm not sure if I like NLY, despite the hype for it right now. You say that there has been troubles and the stabilization of the environment will help NLY going forward. If this was true then why did many of the mREITs have outstanding performance in 2012 while NLY floundered? Not to mention the severe problems CIM is having, makes me question whether NLY is the best option within the mREIT industry. Your "solid bull case" for NLY is more of a solid bull case for the industry, as the only thing you particularly stated about NLY is that we "might" see a stabilization in their dividend. -I have no position in NLY and don't plan on it as I think its being hyped up due to the good outlook of for mREITs as a whole. I'd rather pay a premium for a well performing mREIT with an increasing dividend and growth.
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PennyMac Financial Services will likely be a subsidiary of PNMAC Capital Management, LLC just like PMT and PLS is. It may or may not have an impact on PMT, but I don't see it as an issue.
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You bring up some very good points. Let me give you my take on each of your concerns,
I agree with your point on the risk of using short-term repurchase debt. Many mREITs have this credit risk and any serious credit even would more then likely affect the industry as a whole. This as well as an increase in interest rates.This strategy has benefited greatly due to a solid operational performance and a stabilization of home prices as they stated in their earnings report.
This point also touches on the first point of lack of liquidity. These assets don't have very liquid trading markets because their value is based on a complex set of variables and time frames. This could mean a lack of transparency is not intentional. I would as you mentioned like to see them open up a Q&A session for their earnings calls, maybe we might see this in the future.
Take a look at the recent QA from the presentation at Credit Suisse financial services, It sounds like they have a sound strategy of managing their REIT status and is less of a issue then you make it sound.
Your concerns are very valid, as with all investments there are inherent risks, but so far we have seen attractive growth because a stabilizing housing market. Which I think will continue with the QE as I mentioned in my conclusion.
As for the other REITs you mentioned, I like TWO just not right now, whereas I think now is a prime opportunity for quick buck in PMT
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I agree, I'm long DRI and I hate to see them blaming storms on their decrease in same store sales as we all know that is a bogus excuse. Luckily the market has been pulling them up over the last two days. I hope their attractive dividend can give them a boost before I find the door.
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Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
Annaly Capital: Less Pre-Payments, More Profit Potential, More Secure Dividends [View article]
-I have no position in NLY and don't plan on it as I think its being hyped up due to the good outlook of for mREITs as a whole. I'd rather pay a premium for a well performing mREIT with an increasing dividend and growth.
PennyMac Will Reward Your Portfolio With Great Returns [View article]
PennyMac Will Reward Your Portfolio With Great Returns [View article]
http://yhoo.it/13oQrxX
PennyMac Will Reward Your Portfolio With Great Returns [View article]
PennyMac Will Reward Your Portfolio With Great Returns [View article]
I agree with your point on the risk of using short-term repurchase debt. Many mREITs have this credit risk and any serious credit even would more then likely affect the industry as a whole. This as well as an increase in interest rates.This strategy has benefited greatly due to a solid operational performance and a stabilization of home prices as they stated in their earnings report.
This point also touches on the first point of lack of liquidity. These assets don't have very liquid trading markets because their value is based on a complex set of variables and time frames. This could mean a lack of transparency is not intentional. I would as you mentioned like to see them open up a Q&A session for their earnings calls, maybe we might see this in the future.
Take a look at the recent QA from the presentation at Credit Suisse financial services, It sounds like they have a sound strategy of managing their REIT status and is less of a issue then you make it sound.
Your concerns are very valid, as with all investments there are inherent risks, but so far we have seen attractive growth because a stabilizing housing market. Which I think will continue with the QE as I mentioned in my conclusion.
As for the other REITs you mentioned, I like TWO just not right now, whereas I think now is a prime opportunity for quick buck in PMT
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