Javelin Mortgage book value slips; buybacks stop; adds to agency holdings

|About: Javelin Mortgage Investment (JMI)|By:, SA News Editor

Core earnings of $5.7M or $0.48 per share vs $5.9M and $0.45 in Q4. Estimated taxable REIT income of $5.2M or $0.43. Quarterly dividend is $0.45.

Book value per share of $13.38 down from $14.28 after payment of dividend. Last night's close of $13.23 is $0.15 below book.

Leverage of 7.95:1 rises from 4.9:1. Agency portfolio valued at about $1.2B, non-agency at $284.6M. At end of Q4, it was $801.8M and $284.3M.

Net interest margin of 2.04% rises 26 basis points.

CPR on agency holdings of 3.13% vs. 4%.

No buybacks this quarter after Phil Goldstein calls off the (Bull)dogs. About 1.5M shares remain in the repurchase authorization. Legal and advisory fees associated with Goldstein's proxy contest of $226K.

Previously: Javelin Mortgage Investment EPS of $0.48

JMI -1% premarket