Kain rings the register on Hatteras


American Capital Agency (NASDAQ:AGNC) and American Capital Mortgage (NASDAQ:MTGE) as of yesterday disclose a 4.53% stake in Hatteras Financial (NYSE:HTS) vs. their combined 8.5% stake from late January.

AGNC and MTGE CIO Gary Kain - late last year and early this year noting the absurdity of large swaths of the mREIT industry trading at sizable discounts to book value - was an aggressive buyer of his own stock and that of other mortgage REITs (though Hatteras was the only publicly disclosed purchase).

Not including sizable dividends, Hatteras has returned about 20% YTD, as has American Capital Agency. American Capital Mortgage is up about 12.5%.

Comments (1)
  • William Packer
    , contributor
    Comments (1093) | Send Message
     
    Yeah.. Mtge is very undervalued compared to agnc. It's strange considering mtge has less rate risk, access to MSR market, etc.
    23 Jul 2014, 07:40 PM Reply Like
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