Anthracite Capital, Inc. (AHR)
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AHR Forum Topics
- All Comments on AHR
- General Discussion on AHR
- Seven REIT's Yielding Over 10% [view article]
- 19 Stocks Going Ex-Dividend for the Next Three Weeks [view article]
- Anthracite Capital Deserves More Than Cramer's Cliffs Notes [view article]
- Mortgage REITs: Stick with the Seasoned Veterans [view article]
- Mr. Market Trips on Mark to Market, Gives REITs Away [view article]
- Tread Carefully in Commerical mREITs [view article]
- Jim Cramer's Mad Money Lightning Round, 11/30/07: Abbott and Cost-Cutter [view article]
loading ...Recent AHR Articles
- 19 Stocks Going Ex-Dividend for the Next Three Weeks
- Seven REIT's Yielding Over 10%
- Good News For Mortgage REITs: Debt Markets Stabilizing
- Mortgage REITs: Stick with the Seasoned Veterans
- Mr. Market Trips on Mark to Market, Gives REITs Away
- Anthracite Capital Deserves More Than Cramer's Cliffs Notes
- Tread Carefully in Commerical mREITs
- Full List of Articles »
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Seven REIT's Yielding Over 10% [view article]
well, which mutual funds holding reits are worth an investment? ReplySeven REIT's Yielding Over 10% [view article]
most of these are down 30-50% in 30 days,you must be the village idiot Reply
rd
Seven REIT's Yielding Over 10% [view article]
p/e and peg are pretty much worthless when valuing reits (or any financial for that matter)where's p/b?
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Seven REIT's Yielding Over 10% [view article]
a REIT that housing specilizes in housing? Edit your copy to avoid detractling from your credibility. Reply19 Stocks Going Ex-Dividend for the Next Three Weeks [view article]
Nice list - do note, however, that PEG has erroneously been stated as a % in Line 7 ReplySeven REIT's Yielding Over 10% [view article]
GCT is about to be taken out by ACC, they already distributed a special dividend, the company should cease to exist as a public entity within a few weeks.Also your screen is biased towards M-REITs, there are several public REITs that own Real Real Estate with decent yields...
Also P/E is not used by anyone in the REIT arena, FFO (Funds from Operations is the preferred metric) Reply
Seven REIT's Yielding Over 10% [view article]
You need to add that some of these firms are MORTGAGE REIT's and could have high debt to equity ratios. Also, what about tangible book value? And the ability to continue paying dividends? ReplyAnthracite Capital Deserves More Than Cramer's Cliffs Notes [view article]
i own AHR both common and preferred and are very satisfied. just look its performance in may 08 ReplyGeneral Discussion on AHR
the preferred D seems to be trending lower .(while the C is climbing ) does anyone know the reason ? ReplyGeneral Discussion on AHR
i only wish i had bought more of this well managed stock,when the price dropped to low $7. i appreciate it a lot management keeping shareholders in the "know" when others were less transparent ReplyMortgage REITs: Stick with the Seasoned Veterans [view article]
little boys? you mean the 30 somethings that brought us this debacle? Agreed! However, the seasoned vets were the ones watching the little boys play with matches while sitting on gas cans. :-( ReplyMortgage REITs: Stick with the Seasoned Veterans [view article]
richandmer, you can find articles on the "veterans" here on Seeking Alpha (click on the "More By REIT Wrecks" link just below the article), or on reitwrecks.com. ReplyMortgage REITs: Stick with the Seasoned Veterans [view article]
Joe, you are right. The suggestion that Real Point was using selective negative data to sell research was flippant. The "headline" increase in delinquencies in the first paragraph of the report was what caught my eye. The full report is obviously more comprehensive, but nonetheless much less attention grabbing - hence the irreverance toward Real Point. I apologize, and I have deleted that suggestion from the original source post.To be fair however, the point of the article was not to besmirch Real Point. The point of the article was to illustrate out that the more recent vintages of CMBS are experiencing higher levels of default (as your research aptly pointed out), and more importantly, the implications of that for those Mortgage REITs that invested in them. Incidentally, the number on the total level of outstanding CMBS debt that I used in the article came from Wachovia/Intex.
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Mortgage REITs: Stick with the Seasoned Veterans [view article]
Who do you consider to be the seasoned veterans? ReplyMortgage REITs: Stick with the Seasoned Veterans [view article]
This article is a clear case of irresponsible journalism by the author. He is selectively choosing paragraphs from the Realpoint Monthly Delinquency report, rather than addressing the entire report, to make an inaccurate point that Realpoint is painting an alarming picture concerning delinquencies in CMBS. The realty is that the numbers he quoted from the Realpoint report concerning the increase in delinquency are accurate and are stated in the very first paragraph of the Realpoint report. The author obviously continued to read (and copy) the second paragraph of the Realpoint report regarding the delinquency contribution from 2005 & 2006 issuance. This must be where he stopped reading and copying the Realpoint report because had he read the next paragraph, he would have seen that Realpoint clearly addressed the overall delinquency percentage being less than half a percentage point of the outstanding balance.The first three paragraphs of the Realpoint Monthly Delinquency Report read as follows:
Concerns relative to underlying collateral performance and payment ability are becoming more evident on a monthly basis, as the delinquent unpaid balance for CMBS increased to a trailing 12-month high of $3.48 billion through February 2008, up from $3.16 billion a month prior. This figure is also up 57% from a six year low of only $2.21 billion in March of 2007. On the surface, each delinquency category reflected an increase in February 2008, including a $206 million increase across the 30-day, 60-day, and 90+-day categories. Of greater concern however is that delinquency degradation continued in the 90-day, Foreclosure and REO delinquency categories for the third straight month. Collectively, these three categories grew by an additional $178.8 million in February (an increase of 9% from January, and 18% from December 2007). Furthermore, this degradation took place despite another $86.97 million in liquidations reported for February 2008 (at a low average severity of 20.3%). Liquidation activity however has slowed somewhat amidst the current credit market climate.
Increased delinquency for the more recent vintages remains at the center of our concerns, especially that of 2005 and 2006 vintage transactions. Over 40% of delinquent unpaid balance through February 2008 came from transactions issued in these two years, with nearly 22% of all delinquency found in 2006 transactions. If we extend our review to include the 2007 vintage, an additional 7% of total delinquency is found. We now expect to see continued high delinquency by unpaid balance for these three vintages in the near-term due to aggressive lending practices prevalent in such years, continued through the remainder 2008.
The total unpaid balance for all CMBS pools under review by Realpoint was $871.4 billion in February 2008. The delinquent unpaid balance over the trailing twelve months is shown in Chart 1 below. The delinquency ratio for February 2008 was 0.399%, increased from the prior month and 21% above the 0.329% reported one-year prior in February 2007.
If anyone is interested in obtaining a copy of the entire Realpoint Monthly Delinquency Report that was mentioned in this article, please send me an email and I will provide you with an electronic copy of the report.
Joseph Petro
Managing Director
Realpoint LLC
Joe.petro@realpoint.co...
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