Continued panicky action grips the mortgage REIT sector (REM -3.5%) at the open as the global...
Jun 24 2013, 09:47 ET
Continued panicky action grips the mortgage REIT sector (REM -3.5%) at the open as the global stock selloff as yet offers no relief on interest rates. Adding to the fear is an opening print of -25% on the Market Vectors Mortgage REIT ETF (MORT -3.7%). American Capital (AGNC -4.5%), (MTGE -2.6%), Annaly (NLY -2.8%), Armour (ARR -4.8%), Invesco (IVR -4.4%), Hatteras (HTS -3.9%), CYS Investments (CYS -3.6%). Set for release from embargo tomorrow is SA Pro's REIT Analyst arguing the selloff in AGNC has left the price about 20% below book value.