SA News • Thu, Nov. 13
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Five Oaks Investment Extends Monthly Dividend For 4th Quarter With Near 14% Yield
- Five Oaks to pay $0.125 dividend each month in fourth quarter.
- Earnings first two quarters higher than paid dividends.
- Look for catch-up dividend for year-end.
- Long-term potential is positive after interest rates increase.
There are no Transcripts on OAKS.
Thu, Nov. 13, 8:02 AM
- Q3 net income of $4.2M or $0.28 per share vs. $3.8M and $0.34 in Q2. Dividend is $0.375.
- Book value per share of $12.50 slips from $12.76 at the end of Q2. Last night's close of $11.20 is a 10.4% discount to book.
- Since quarter's end, Five Oaks (NYSE:OAKS) for the first time participated in a prime jumbo mortgage securitization deal. OAKS was the biggest contributor of loans, selling about $106M into the trust.
- CEO David Carroll notes the dividend more than made up for the drop in book value during the Q, allowing a positive economic return. "We continued to make continued significant progress in changing our business model to that of an operating company focused on credit."
- Previously: Five Oaks Investment misses by $0.07, misses on revenue
- The stock fell 2.7% in after-hours trade last night to $10.90.
Wed, Nov. 12, 5:03 PM| 1 Comment
Thu, Oct. 9, 10:40 AM
- It's been a good week for mortgage REITs (REM +0.7%) which rose on Tuesday as the broad market tumbled and brought yields down with it, rose more on Wednesday, this time alongside a major broad market rally on dovish FOMC minutes, and are on the move higher again today as the averages again head south.
- Down to 2.28% earlier in the session (a 16-month low), the 10-year Treasury yield is now flat on the day at 2.32%.
- This week's strong move comes following a tough September in which the mREITs gave back a nice chunk of their YTD gains.
- Annaly (NLY +1.2%) is up nearly 5% over the last four sessions. American Capital Agency (AGNC +1.5%) is ahead more than 6%.
- Others: Armour (ARR +1%), Chimera (CIM +1%), CYS Investments (CYS +1.2%), New York Mortgage (NYMT +1.3%), Anworth (ANH +0.8%), Dynex (DX +1%), Javelin (JMI +1.5%), Five Oaks (OAKS +0.9%).
- Other ETFs: MORT, MORL
Tue, Sep. 30, 3:05 PM
- Many in the sector (REM -0.9%) presented today at the JMP Financial Services and Real Estate Conference. Those heard in full by this reporter - CYS Investments (CYS -1.6%), Hatteras Financial (HTS -0.9%), and MFA Financial (MFA -1.3%) - presented nothing alarming, but the sector is nevertheless lit up bright red.
- Other presenters included Capstead Mortgage (CMO -1.2%), Arlington Asset (AI -2.2%), Dynex Capital (DX -1.7%), Invesco (IVR -1.2%), Armour (ARR -2%), New York Mortgage Trust (NYMT -3.2%), Javelin Mortgage (JMI -1.5%), Five Oaks Investment (OAKS -1.9%), and Apollo Residential (AMTG -1.1%).
- Related ETFs: MORT, MORL
- Previously: CYS's Grant not buying hawkish ideas from Fed
- Previously: Hatteras updates on Q3 at conference
- Previously: MFA Financial positions for further housing improvement
Thu, Aug. 21, 7:22 AM
Fri, Aug. 8, 9:35 AM| Comment!
Fri, Aug. 8, 9:29 AM| Comment!
Fri, Aug. 8, 9:25 AM
Wed, Jul. 9, 4:18 PM
Thu, Jun. 19, 9:11 AM
Wed, Jun. 18, 4:49 PM
- Five Oaks (OAKS) files to sell 3.5M shares in a secondary offering, with underwriters granted a greenshoe option of 525K shares.
- At the regular session's close, the stock was selling for $11.89, a 7.4% discount to March 31 book value.
- Shares are off 3.3% in after-hours action to $11.50.
- Source: Press Release
Mon, May. 5, 6:39 PM
Tue, Mar. 11, 9:34 AM
Wed, Feb. 19, 9:13 AM
Dec. 17, 2013, 12:40 PM
Aug. 7, 2013, 6:29 AM
OAKS vs. ETF Alternatives
Five Oaks Investment Corp is engaged in investing, financing and managing a leveraged portfolio of mortgage-backed securities, including non-Agency and Agency residential, Multi-Family, residential mortgages loans and other mortgage-related investments.
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