Update: Javelin Mortgage Investment's Second Quarter Earnings Impact
- Javelin Mortgage released Q2 earnings and reported core taxable REIT income of $4.9 million of $0.41 per share.
- This is in-line with most expectations, although slightly worse than my prediction for performance for the company I made to start the year.
- Shareholder equity was $161 million or $13.40 per common share, a 1% premium to the current price of $13.27.
- The stock sold off hard following the report, but has since begun to rebound.
- Currently the dividend is safe, but Javelin came in $0.04 per share shy of complete coverage.