Five Oaks Investment(OAKS)- NYSE
  • Tue, Aug. 9, 5:11 PM
    • Five Oaks Investment (NYSE:OAKS): Q2 EPS of $0.21 misses by $0.01.
    • Net interest income of $5.77M (-32.7% Y/Y)
    • Press Release
    | Tue, Aug. 9, 5:11 PM
  • Thu, Jun. 16, 6:11 AM
    • Five Oaks Investment (NYSE:OAKS) declares $0.06/share monthly dividend, in line with previous.
    • Forward yield 13.51%
    • Payable July 28; for shareholders of record July 15; ex-div July 13.
    • Payable Aug. 30; for shareholders of record Aug. 15; ex-div Aug. 11.
    • Payable Sept. 29; for shareholders of record Sept. 15; ex-div Sept. 13.
    | Thu, Jun. 16, 6:11 AM | 2 Comments
  • Wed, May 11, 10:16 AM
    • Q1 core earnings of $3.5M or $0.24 per share vs. $4.1M and $0.28 in Q4. Dividends of $0.18.
    • Book value per share of $8.12 drops from $9.58 three months earlier. The current price (after today's 12.5% decline) is $5.39.
    • Negative economic return for the quarter of 13.4%, or 53% annualized, thanks to losses on the company's portfolio of credit-sensitive assets, and hedge losses exceeding gains on the portfolio of agency MBS.
    • OAKS took down non-agency MBS exposure to $84.4M by quarter's end from $121.5M at start of quarter.
    • Previously: Five Oaks Investment misses by $0.01, misses on revenue (May 10)
    | Wed, May 11, 10:16 AM | 6 Comments
  • Tue, May 10, 5:17 PM
    • Five Oaks Investment (NYSE:OAKS): Q1 EPS of $0.24 misses by $0.01.
    • Revenue of $5.76M (-36.7% Y/Y) misses by $2.22M.
    • Press Release
    | Tue, May 10, 5:17 PM | 1 Comment
  • Mon, Apr. 11, 12:49 PM
    • Annaly Capital (NLY -1.1%) is lower following its agreement to purchase Hatteras Financial (HTS +10.2%) for $1.5B in cash and stock. The other sector giant, American Capital Agency (AGNC -0.1%) is in the red as well - makes sense considering these two players are acquirers (or at least potentially so), not targets.
    • With the deal, Annaly is adding a portfolio of variable rate mortgages to its books for about 85% of book value.
    • The rest of the sector has market caps of about $2.5B down to sub-$250M, making them digestible as well.
    • CYS Investments (CYS +1.3%), American Capital Mortgage (MTGE +1.9%), New York Mortgage (NYMT +2.5%), Anworth Mortgage (ANH +1.2%), Dynex Capital (DX +0.9%), AG Mortgage (MITT +1.2%), Ellington Residential (EARN +1.2%), PennyMac (PMT +1%), Five Oaks (OAKS +1.6%).
    • ETFs: MORL, REM, MORT
    • Now read: Annaly: Boom Goes The Dynamite (April 11)
    | Mon, Apr. 11, 12:49 PM | 10 Comments
  • Wed, Mar. 23, 4:50 PM
    • Five Oaks Investment (NYSE:OAKS): Q4 EPS of $0.28 beats by $0.02.
    • NII of $5.53M (-8.7% Y/Y) misses by $2.18M.
    • Press Release
    | Wed, Mar. 23, 4:50 PM
  • Thu, Mar. 17, 1:31 PM
    • It's day two of advances for the mortgage REIT sector (REM +1.6%) after the Fed's dovish turn yesterday. The spread between two-year and ten-year U.S. Treasury yields is up to 102 basis points vs. an eight-year low of 95 bps just over a week ago. That spread, of course, is what mortgage REITs profit from, and bigger is better.
    • American Capital Agency (AGNC +1.8%), Two Harbors (TWO +2%), CYS Investments (CYS +1.8%), New York Mortgage (NYMT +5.3%), MFA Financial (MFA +1.2%), Dynex (DX +2.4%), Ellington (EARN +1.7%), Five Oaks (OAKS +2.9%)
    • ETFs: MORL, REM, MORT, LMBS
    • Previously: Mortgage REITs in the green after dovish Fed (March 16)
    | Thu, Mar. 17, 1:31 PM | 12 Comments
  • Wed, Mar. 16, 4:43 PM
    • Five Oaks Investment (NYSE:OAKS) declares $0.06/share monthly dividend, in line with previous.
    • Forward yield 14.09%
    • Payable April 28; for shareholders of record April 15; ex-div April 13.
    • Payable May 27; for shareholders of record May 16; ex-div May 12.
    • Payable June 29; for shareholders of record June 15; ex-div June 13.
    | Wed, Mar. 16, 4:43 PM | 1 Comment
  • Fri, Feb. 26, 10:07 AM
    • The mREITs (REM +1.3%) are higher across the board after Apollo Residential Mortgage (AMTG +31.3%) agrees to a sale at a hefty premium to last night's close, but still at a discount to book value.
    • The entire sector is trading at sizable discounts to book value, with some names at massive discounts. For its part, Apollo Residential yesterday could be purchased for about 60% of its end-of-year book value. And the assets on the books of these companies tend to be highly liquid and easily valued.
    • Running an mREIT may not be a terribly efficient exercise at the small market caps most of the sector sports. The companies depend on being able to issue stock with which to fund growth, but can't do so (without being wildly dilutive) when the shares are trading at such wide discounts.
    • Sector giants Annaly Capital (NLY +0.6%) and American Capital Agency (AGNC +1.2%) have market caps above $6B, and Two Harbors (TWO +0.8%), Chimera (CIM +1.1%), CYS Investments (CYS +1%), Invesco (IVR +3.5%), Hatteras (HTS +1.2%), MFA Financial (MFA +1%), and Capstead (CMO +1%) are all near or well over $1B.
    • Players in Apollo's league (sub-$500M market cap) include New York Mortgage (NYMT +1%), Western Asset (WMC +0.6%), Anworth (ANH +1.3%), Dynex (DX +1.4%), Arlington Asset (AI +4.6%), AG Mortgage (MITT +8.7%), The Ellingtons (EFC +1.9%), (EARN +1.1%), Javelin (JMI +2.8%), Orchid Island (ORC +1.5%), Five Oaks (OAKS +0.7%), ZAIS Financial (ZFC +1.3%)
    | Fri, Feb. 26, 10:07 AM | 32 Comments
  • Wed, Jan. 20, 10:44 AM
    • The discounts to book values across the sector have grown to such high levels that one wonders whether it just makes more sense for many of these players to liquidate the portfolios and return the money to the shareholders.
    • Sector giants Annaly Capital (NLY -4.9%) and American Capital Agency (AGNC -4.6%) are selling at 30% discounts to their most recent book value.
    • Armour Residential (ARR -8.3%), Invesco Mortgage (IVR -7%), Hatteras Financial (HTS -5%), New York Mortgage (NYMT -9.5%), Apollo Residential (AMTG -6.4%), AG Mortgage (MITT -7.2%), Anworth (ANH -6.3%), Arlington Asset (AI -8.7%), and Five Oaks (OAKS -8%) are selling at greater than 40% discounts. Two Harbors (TWO -7.5%), CYS Investments (CYS -6.2%), American Capital Mortgage (MTGE -6%), Capstead (CMO -5.9%), Dynex (DX -7.2%), Western Asset (WMC -8%), Ellington Residential (EARN -7.2%), and Orchid Island (ORC -9.6%) are all nearing 40% discounts.
    • MFA Financial (MFA -6.4%) and Chimera Investment (CIM -8.1%) are both nearing 30% discounts to book.
    • ETFs: MORL, REM, MORT, LMBS
    | Wed, Jan. 20, 10:44 AM | 249 Comments
  • Tue, Jan. 19, 11:43 AM
    • The best thing that can be said about the market reaction today, is that New Residential (NRZ -0.6%) isn't down as much as the other mortgage-related names (REM -1.8%) which continue to be mercilessly pounded.
    • PennyMac (PMT -4.5%), Ocwen (OCN -3.7%), Walter Investment (WAC -4.8%), Stonegate (SGM -3.4%), Armour (ARR -3.5%), Invesco (IVR -2.4%), New York Mortgage (NYMT -4.1%), Apollo Residential (AMTG -3.1%), AG Mortgage (MITT -3.4%), Five Oaks (OAKS -6.7%), American Capital (MTGE -2%), Two Harbors (TWO -2.2%), Chimera (CIM -3.4%).
    • Citi's Michael Kaye - who rates NRZ a Buy - says the repurchase plan makes sense given the stock trades at just 0.84x book and yields 18%. Depending on how the buyback is funded, it could add up to a couple of hundred basis points of accretion. It also sends a signal to the markets about management's belief in the stock's value. Management gave little detail on a timetable.
    • Previously: New Residential steps in with $200M repurchase plan (Jan. 19)
    | Tue, Jan. 19, 11:43 AM | 49 Comments
  • Wed, Jan. 13, 1:14 PM
    • It wasn't supposed to be this way after the Fed embarked on a rate hike cycle as these yield-starved names could finally look forward to earning a better spread on their money.
    • Since the Fed hiked last month, however, the long bond yield has tumbled about 20 basis points, further narrowing the yield curve.
    • With today's 1.3% decline, the XLF is lower by 7.6% YTD, about 200 basis points worse than the S&P 500 (but about 250 basis points better than the energy sector).
    • TBTFs: Morgan Stanley (MS -3.9%), Goldman Sachs (GS -2.3%), Citigroup (C -1.8%)
    • Regionals: U.S. Bancorp (USB -2%), Regions Financial (RF -3.4%), New York Community Bancorp (NYCB -2.2%)
    • Mortgage-related names like Ocwen (OCN -6.2%), Nationstar (NSM -5.3%), Walter Investment (WAC -13.9%), and New Residential (NRZ -5.3%) have come in for particular punishment this day and this year. The mortgage REITs too: Hatteras Financial (HTS -4.4%), Western Asset (WMC -3.6%), New York Mortgage (NYMT -2.3%), Five Oaks (OAKS -5.2%), PennyMac (PMT -2.6%)
    • ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, BTO, SEF, IYG, FXO, FNCL, FINU, RWW, RYF, FINZ, XLFS
    | Wed, Jan. 13, 1:14 PM | 47 Comments
  • Tue, Jan. 12, 3:17 PM
    • The 10-year Treasury yield is off eight basis points on the session at 2.10%, and now lower by about 20 basis points since the Fed Funds rate got hiked 25 basis points less than a month ago - probably not the best scenario for mREIT earnings going forward.
    • Other income favorites like equity REITs, BDCs, and utilities (XLU -0.8%) are also being aggressively sold today.
    • Annaly Capital (NLY -1.8%), American Capital Agency (AGNC -1.7%), Armour Residential (ARR -2.4%), Two Harbors (TWO -2%), CYS Investments (CYS -1.9%), Invesco (IVR -2.3%), New York Mortgage (NYMT -2.3%), Hatteras (HTS -3.2%), Capstead (CMO -3.6%), Western Asset (WMC -2.9%), Apollo Residential (AMTG -3.6%), Dynex (DX -3.1%), Ellington Residential (EARN -3.5%), AG Mortgage (MITT -3.2%), PennyMac (PMT -4.9%), FIve Oaks (OAKS -5.7%)
    • ETFs: MORL, REM, MORT, LMBS
    | Tue, Jan. 12, 3:17 PM | 24 Comments
  • Dec. 23, 2015, 12:48 PM
    • A check of discounts/premiums to book for many of the names in the mortgage REIT sector finds discounts have mostly widened significantly over the past year.
    • Among the notable items: Just two names sold at premiums to book a year ago. New York Mortgage (NASDAQ:NYMT) trust at 11.6% and Capstead Mortgage (NYSE:CMO) at 1.3%. While book value has barely budged at NYMT over the past year, the price investors are willing to pay has - it now trades at a 17.6% discount. Capstead has shed about 5% of its book value, but now trades at a 22.66% discount.
    • Sector giants Annaly Capital (NYSE:NLY) and American Capital Agency (NASDAQ:AGNC) still trade at sizable discounts to book, with AGNC's widening to 20.65% from 12.7% a year ago.
    • Chimera Investment (NYSE:CIM) trades at just a 4.12% discount to book - that's less than its 4.9% discount a year ago. Book value however, slid 12.7% over the last 52 weeks.
    • Others covered: ARR, TWO, IVR, CYS, HTS, MTGE, AMTG, ANH, MITT, DX, WMC, MFA, EARN, AI, CHMI, ORC, OAKS, ZFC
    • ETFs: MORL, REM, MORT, LMBS
    | Dec. 23, 2015, 12:48 PM | 21 Comments
  • Dec. 16, 2015, 10:20 AM
    • Five Oaks Investment (NYSE:OAKS) declares $0.06/share monthly dividend, -40% decrease from prior dividend of $0.10.
    • Forward yield 14.2%
    • Payable Jan. 28; for shareholders of record Jan. 15; ex-div Jan. 13.
    • Payable Feb. 26; for shareholders of record Feb. 16; ex-div Feb. 12.
    • Payable Mar. 30; for shareholders of record Mar. 15; ex-div Mar. 11.
    • The company authorized to repurchase up to $10M of the common stock.
    | Dec. 16, 2015, 10:20 AM | 5 Comments
  • Dec. 14, 2015, 12:44 PM
    | Dec. 14, 2015, 12:44 PM
Company Description
Five Oaks Investment Corp. is a real estate investment trust. It focuses on investing, financing and managing a portfolio of residential mortgage-backed securities, residential mortgage loans and other mortgage related investments. Five Oaks Investment was founded on March 28, 2012 and is... More
Sector: Financial
Industry: Mortgage Investment
Country: United States