Anworth Mortgage Asset Corporation (ANH) - NYSE
  • Dec. 16, 2015, 2:24 PM
    • The about left-for-dead mortgage REIT sector (REM +2.4%) has been enjoying a big Fed rate hike day, and has added to gains since the news officially came down at 2 ET.
    • Credit-exposed names are leading the way higher: Chimera Investment (CIM +5.7%), Invesco (IVR +2.4%), New York Mortgage (NYMT +2.1%), Western Asset (WMC +5.6%), Anworth (ANH +2.7%), Arlington Asset (AI +4.7%), AG Mortgage (MITT +4.2%), Orchid Island (ORC +5%). MFA Financial (MFA +3.4%)
    • Others: Annaly (NLY +2.1%), American Capital Agency (AGNC +0.8%), CYS Investments, Capstead (CMO +1.6%)
    • ETFs: MORL, REM, MORT, LMBS
    • Previously: Fed projections: 1.4% Fed Funds by the end of 2016 (Dec. 16)
    • Previously: Fed officially puts an end to ZIRP (Dec. 16)
    | Dec. 16, 2015, 2:24 PM | 35 Comments
  • Dec. 14, 2015, 11:32 AM
    • Before it was fears about interest rates - first, with long yields too low and thus slimming margins, and then the Fed's promise to hike short rates (and slimming margins even more). Now we can toss credit worries into the mix, and the action's plenty panicky there - junk bonds are off sharply again today and two more funds have been forced to gate withdrawals and/or liquidate.
    • Once pure-play agency REITs like Annaly Capital (NLY -2%) and American Capital Mortgage (AGNC -1.7%) now have some credit exposure.
    • Others are more credit-exposed: Chimera Investment (CIM -3.5%), Invesco (IVR -2.7%), American Capital Mortgage (MTGE -2.8%), MFA Financial (MFA -2.8%), New York Mortgage (NYMT -4.7%), Western Asset (WMC -3.6%), Anworth (ANH -2.9%), Arlington Asset (AI -3.6%), Javelin (JMI -4.8%), Orchid Island (ORC -7.4%), Five Oaks (OAKS -12.3%)
    • Just to pick a few out, Annaly Capital sells at a 24.4% discount to Sept. 30 book value; American Capital Agency sells at a 26.3% discount; Invesco at a 30% discount; MFA Fnancial at 15.4% discount; New York Mortgage at a 25% discount (this sold at a premium to book as recently as early fall).
    • ETFs: MORL, REM, MORT, LMBS
    | Dec. 14, 2015, 11:32 AM | 65 Comments
  • Nov. 2, 2015, 4:16 PM
    • Q3 core earnings of $14.465M or $0.14 per share vs. $15.4M and $0.15 in Q2. Dividend is $0.15.
    • Book value per hare of $6.26 slips from $6.48 one quarter earlier. Today's close of $4.81 is a 23.2% discount to book.
    • 1.52M shares bought back during quarter at average price of $5.07 each.
    • Portfolio size of $8B is flat from last quarter. Agency MBS holdings make up 83.1% of portfolio, down a bit from Q2; non-agency make up 8.1%, up a bit. Residential mortgage loans of $691M up from $357M. Residential real estate flat at 14.4M.
    • Conference call tomorrow at 1 ET
    • Previously: Anworth Mortgage Asset EPS in-line, misses on revenue (Nov. 2)
    • ANH flat after hours
    | Nov. 2, 2015, 4:16 PM
  • Nov. 2, 2015, 4:07 PM
    • Anworth Mortgage Asset (NYSE:ANH): Q3 EPS of $0.14 in-line.
    • Revenue of $24.96M (+39.3% Y/Y) misses by $0.11M.
    | Nov. 2, 2015, 4:07 PM
  • Nov. 1, 2015, 5:35 PM
  • Sep. 18, 2015, 11:19 AM
    • Annaly Capital (NLY +0.9%), Anworth Mortgage (ANH +0.6%), Apollo Residential (AMTG +0.1%) and ZAIS Financial (ZFC +0.8%) last night added themselves to the smallish list of mortgage REITs maintaining dividends this quarter.
    • Those announcing dividend cuts after the bell were American Capital Mortgage (MTGE -1.2%) and Arlington Asset (AI -0.5%).
    • The sector as a whole continues to move higher following the FOMC yesterday afternoon, but hit particularly hard today is CYS Investment (CYS -3.1%). The move is especially notable as CEO Kevin Grant has been consistently skeptical about fears of higher rates.
    • ETFs: MORL, REM, MORT, LMBS
    | Sep. 18, 2015, 11:19 AM | 31 Comments
  • Sep. 17, 2015, 4:12 PM
    • Anworth Mortgage Asset (NYSE:ANH) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 11.78%
    • Payable Oct. 29; for shareholders of record Sept. 30; ex-div Sept. 28.
    | Sep. 17, 2015, 4:12 PM
  • Sep. 1, 2015, 2:54 PM
    • The financial sector is leading the market lower today, but these sessions often see money flow into REITs. There's no green to be found, but mortgage REITs like Annaly Capital (NLY -0.3%), American Capital Agency (AGNC -0.2%), Anworth Mortgage (ANH -0.2%), Chimera (CIM -0.1%), CYS Investments (CYS -0.1%), Invesco (IVR -0.3%), and Dynex (DX -0.7%) are outperforming by a wide margin.
    • Equity REITs are doing better than the XLF and S&P 500, but still sharply lower: Realty Income (O -1.5%), Omega Healthcare (OHI -2.2%), HCP (HCP -1.2%), Gramercy Property (GPT -1.9%), Equity Residential (EQR -2.4%), Kimco (KIM -2.1%), Simon Property (SPG -2.2%), Public Storage (PSA -1.1%), Hospitality Properties (HPT -2.1%), Stag Industrial (STAG -1.2%)
    • ETFs: IYR, VNQ, MORL, REM, MORT, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, LMBS, IARAX
    | Sep. 1, 2015, 2:54 PM | 33 Comments
  • Aug. 11, 2015, 12:59 PM
    • The Fed may be determined to hike rates, but deflationary signals are everywhere, with Beijing the latest government to acknowledge such with its devaluation overnight.
    • Crude oil has taken out a new six-year low, tumbling another 4% to $43.15 per barrel, and copper's 3% decline has brought it to a fresh six-year low. The grains are all down by 2% or more, but gold is marginally higher.
    • The major U.S. averages are down more than 1%, and Europe fell 1.5% today.
    • The 10-year Treasury yield is lower by a full ten basis points to 2.13%.
    • Leading the heavily discounted mREIT sector higher are Annaly Capital (NLY +1.1%), American Capital Agency (AGNC +1.3%), CYS Investments (CYS +1.2%), New York Mortgage (NYMT +1.6%), Hatteras Financial (HTS +1.3%), Capstead (CMO +1%), Anworth (ANH +1.4%), Dynex Capital (DX +2.6%), and AG Mortgage (MITT +1.6%).
    • ETFs: MORL, REM, MORT, LMBS
    • In equity REITs: National Retail (NNN +1.2%), Equity Residential (EQR +1.5%), AvalonBay (AVB +1.2%), General Growth (GGP +1.9%), Kimco (KIM +1.4%), Whitestone REIT (WSR +2.9%), Washington Real Estate (WRE +1.2%), Hospitality Properties (HPT +2.3%), Chamber Street (CSG +1.1%).
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Aug. 11, 2015, 12:59 PM | 19 Comments
  • Aug. 4, 2015, 8:10 AM
    • Q2 core earnings of $15.4M or $0.15 per share vs. $16.19M and $0.15 in Q1.
    • 2.26M shares bought back during quarter at average price of $5.16 each. Since Q's end, company has repurchased another 286K shares at average price of $5.07 each. Total float is about 105M shares.
    • Book value per share of $6.48 vs. $6.52 one quarter earlier. Last night's close of $4.99 is a 23% discount to book.
    • Portfolio size of just more than $8B is up a hair from Q1. Agency MBS holdings of $7B, non-agency of $569M, residential mortgage loans of $357M, and residential real estate of $14.4M. Property portfolio is now up to 88 single-family rentals in SW Florida.
    • Conference call at 1 ET
    • Previously: Anworth Mortgage Asset beats by $0.02, beats on revenue (Aug. 3)
    • ANH flat premarket
    | Aug. 4, 2015, 8:10 AM
  • Aug. 3, 2015, 11:28 PM
    • Anworth Mortgage Asset (NYSE:ANH): Q2 EPS of $0.15 beats by $0.02.
    • Revenue of $26.66M (+74.4% Y/Y) beats by $2.74M.
    | Aug. 3, 2015, 11:28 PM
  • Aug. 2, 2015, 5:35 PM
  • Jul. 23, 2015, 1:17 PM
    • CYS Investments last night reported a big drop in book value as the effect of sharply higher rates more than offset the company's hedges. Core income failed to cover the dividend as prepayments also rose.
    • The stock today is down 2.6% and trading at more than a 20% discount to book value.
    • Earlier this week, Hatteras also reported a decline in income and fall in book value.
    • Sector giants Annaly Capital (NLY -0.5%) and American Capital Agency (AGNC -0.7%) are performing the best today. Armour Residential (ARR -1.8%), Chimera Investment (CIM -0.8%), Invesco Mortgage (IVR -1.1%), New York Mortgage (NYMT -1.2%), Western Asset Mortgage (WMC -1%), Anworth Mortgage (ANH -1.2%), Arlington Asset (AI -2.3%), Ellington Residential (EARN -2.1%), Dynex Capital (DX -0.8%)
    • ETFs: MORL, REM, MORT, LMBS
    | Jul. 23, 2015, 1:17 PM | 32 Comments
  • Jun. 30, 2015, 3:11 PM
    • The team continues to favor those mREITs creating operating businesses and that can create their own investments, making PennyMac Mortgage Investment Trust (NYSE:PMT), Two Harbors (NYSE:TWO), and New Residential (NYSE:NRZ) their top picks - though one wonders why NRZ is lumped in with the mREIT sector.
    • Coverage is reinstated on Anworth Mortgage (NYSE:ANH) and Ellington Residential (NYSE:EARN) with Neutral ratings, with the bank noting both are trading to substantial discounts to book value (ANH at 22.8% and EARN at 13.3%).
    • Anworth's late-2014 strategy of transforming itself into a hybrid-REIT came too late in the cycle to add a lot of value, says Credit Suisse. While Ellington's active management style should allow it to profit from trading opportunities, the drag from the short TBA position is likely to pull earnings below the current dividend in Q4.
    | Jun. 30, 2015, 3:11 PM | 12 Comments
  • Jun. 26, 2015, 3:31 PM
    • Equity REITs are mostly being spared any punishment today, but mortgage REITs are hitting multi-year lows across the board as the 10-year U.S. Treasury yield climbs seven basis points to 2.48%.
    • Annaly Capital (NLY -4.7%) hasn't seen a price this low since Alan Greenspan was nearing the end of his rate hike cycle in 2000. American Capital Agency (AGNC -3.7%) is at its lowest price since the bottom of the financial crisis.
    • Armour Residential (ARR -2.9%), Two Harbors (TWO -4.5%), Chimera Investment (CIM -4.8%), CYS Investments (CYS -3.7%), American Capital Mortgage (MTGE -5.4%), Capstead Mortgage (CMO -4.5%), Anworth Mortgage (ANH -4.3%), AG Mortgage (MITT -3.3%), Ellington Residential (EARN -5.3%), Orchid Island (ORC -3.9%).
    • ETFs: MORL, REM, MORT, LMBS
    | Jun. 26, 2015, 3:31 PM | 128 Comments
  • Jun. 18, 2015, 4:11 PM
    • Anworth Mortgage Asset (NYSE:ANH) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 11.59%
    • Payable July 29; for shareholders of record June 30; ex-div June 26.
    • The Company announced that the Board authorized the Company to acquire up to an additional 5M shares through its share repurchase program.
    | Jun. 18, 2015, 4:11 PM
Company Description
Anworth Mortgage Asset Corp. operates as a real estate investment trust. It invests in agency mortgage-backed securities issued or guaranteed by the United States government sponsored entities or an agency of the United States government, including mortgage pass-through certificates,... More
Sector: Financial
Industry: REIT - Diversified
Country: United States