- Core earnings of $0.70 per share fell from $0.83 in Q3.
- Book value per share of $15.27 fell from $16.81, but the decline includes the payout of $2.35 (cash and stock) in dividends. The stock portion of the dividend boosted the share count to 26.85M shares from 24.3M.
- Net interest spread of 2.15% falls 13 basis points from Q3. CPR of 5% dips from 5.3%. Leverage drops to 6.4x (6.9x when adjusted for TBA position) from 8.1x (9x when adjusted for TBA position).
- Company continues to move portfolio more into non-agency holdings which account for 15% of exposure at year's end vs. 8% at the end of Q3.
- WMC -0.9% premarket to $16.19.
- CC at 11 ET
- Press release, Q4 results
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