Seeking Alpha
 

Anworth Mortgage Asset Corporation (ANH)

- NYSE
  • Wed, Feb. 11, 4:37 PM
    • Q4 core earnings of $15.47M or $0.14 per share vs. $15.9M and $0.13 in Q3. Dividend is $0.14. 7.8M shares repurchased during quarter at average price of $5.15 each. Economic benefit based on $6.34 Q3 book value of about $9.3M or $0.08 per share.
    • Another 2.6M shares have been bought back thus far in 2015 at an average price of $5.17 each.
    • Dec. 31 book value per share of $6.47 vs. $6.34 at end of Q4. Today's close of $5.04 is a 22.1% discount to book.
    • Portfolio size of $8B is marginally lower from Q3, with 97.3% of assets in agency MBS.
    • Residential real estate portfolio remains at 79 single-family properties in Southeastern Florida. 89% are rented (up from 70%). Gross rental income during quarter of $322K.
    • Conference call tomorrow at 4 ET
    • Previously: Anworth Mortgage Asset beats by $0.02 (Feb. 11)
    • Source: Press Release
    • ANH flat after hours
    | Comment!
  • Wed, Feb. 11, 4:35 PM
    | Comment!
  • Wed, Jan. 14, 1:17 PM
    • Agency MBS are off to their worst start relative to Treasurys since 1997 as the big drop in interest rates has investors nervous about a surge in refinancing. Returns on paper backed by Fannie, Freddie, or Ginnie Mae are 60 basis points less than those on Treasurys of similar duration so far this month.
    • Also stoking the trend are changes to government programs aimed at making mortgage credit easier to obtain.
    • Earlier today, the MBA reported applications for home-loan refis jumped 66% last week.
    • Prices of agency MBS currently average 106.5 cents on the dollar, meaning owners would lose 6.5% if immediately repaid.
    • Annaly Capital (NLY -1.3%), American Capital Agency (AGNC -1.2%), Armour Residential (ARR -2%), Two Harbors (TWO -0.9%), Invesco Mortgage (IVR -1.9%), American Capital Mortgage (MTGE -1.3%), Dynex (DX -0.5%), Apollo Residential (AMTG -1.2%), Anworth (ANH -0.9%), Western Asset (WMC -1.6%).
    • ETFs: REM, MORT, MORL
    | 40 Comments
  • Dec. 30, 2014, 12:37 PM
    • Nearly all the mREITs sell at discounts to their most recently disclosed book value, with sector giants Annaly Mortgage (NYSE:NLY) and American Capital Agency (NASDAQ:AGNC) trading at double-digit discounts.
    • Often a sizable haircut to book may make sense, as in the case of Armour Residential (NYSE:ARR) and Javelin Mortgage (NYSE:JMI), both of which just cut their dividend (they have the same external manager).
    • Of the 24 companies examined, New York Mortgage Trust (NASDAQ:NYMT) and Capstead Mortgage (NYSE:CMO) stand alone in trading at premiums to book value.
    • The full list
    | 10 Comments
  • Dec. 18, 2014, 4:15 PM
    • Anworth Mortgage Asset (NYSE:ANH) declares $0.14/share quarterly dividend, in line with previous.
    • Forward yield 10.66%
    • Payable Jan. 29; for shareholders of record Dec. 30; ex-div Dec. 26.
    | Comment!
  • Nov. 5, 2014, 4:40 PM
    • Q2 core earnings of $15.9M of $0.13 per share. Dividend is $0.14.
    • Book value per share of $6.34 vs. $6.26 at end of Q2. Today's close of $5.11 is a 19.4% discount to book.
    • 6.8M shares repurchased during quarter at average price of $5.10 each. Based on $6.26 book value, economic gain of about $7.9M or $0.07 per share (9.5M shares bought back in Q2).
    • Total assets (mostly hybrid adjustable agency MBS) of $8.1B vs. $8.6B at end of Q2. CPR of 18% up 400 basis points from Q2. Net interest rate spread of 0.83% up 25 basis points.
    • Residential real estate portfolio: As of September 30, up to 79 1-4 unit properties at a total cost of $12.5M. About 70% are rented, 10% in the process of being rented, and 20% undergoing renovation.
    • Since quarter's end, purchased/committed to purchase $52M in non-agency MBS, and bought back another 5.67M shares at an average price of $5.09 each.
    • Conference call tomorrow at 4 ET
    • Previously: Anworth Mortgage Asset beats by $0.04, beats on revenue
    • ANH +0.4% after-hours
    | Comment!
  • Nov. 5, 2014, 4:11 PM
    • Anworth Mortgage Asset (NYSE:ANH): Q3 EPS of $0.13 beats by $0.04.
    • Revenue of $22.98M (+4.7% Y/Y) beats by $7.14M.
    • Press Release
    | Comment!
  • Oct. 20, 2014, 9:11 AM
    • Today's announcement is the authorization of another 10M in buybacks. Anworth (NYSE:ANH) last lifted the repurchase program by 10M shares in late May (it repurchased 9.5M shares in Q2, and as of its Q2 earnings report had bought back 2.3M shares in Q3). This followed another 10M share boost in March and 5M late in 2013 as the company fought off a proxy fight from Western Investment.
    • The last reported float was 123.8M shares, but it's probably somewhat less at the moment.
    • Source: Press Release
    • Shares +1.4% premarket
    | Comment!
  • Oct. 9, 2014, 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
    | 5 Comments
  • Sep. 25, 2014, 6:38 AM
    • Anworth Mortgage (NYSE:ANH) hires Brett Roth as SVP and portfolio manager, where he'll focus on investments in non-agency MBS and residential mortgage loans.
    • Prior to joining Anworth, Roth for 15 years held senior positions investing in non-agency paper for Trust Company of the West.
    • Source: Press Release
    | Comment!
  • Sep. 18, 2014, 4:34 PM
    • Anworth Mortgage Asset Corporation (NYSE:ANH) declares $0.14/share quarterly dividend, in line with previous.
    • Forward yield 11.11%
    • Payable Oct. 29; for shareholders of record Sept. 30; ex-div Sept. 26.
    | Comment!
  • Aug. 1, 2014, 4:56 PM
    • Anworth Mortgage Asset (NYSE:ANH): Q2 GAAP EPS of $0.07
    • Revenue of $15.29M (-38.5% Y/Y) misses by $1.78M.
    • Press Release
    | Comment!
  • Jun. 19, 2014, 4:29 PM
    • Anworth Mortgage Asset Corporation (ANH) declares $0.14/share quarterly dividend, in line with previous.
    • Forward yield 10.65%
    • Payable July 29; for shareholders of record June 30; ex-div June 26.
    | Comment!
  • May. 27, 2014, 4:14 PM
    • Fresh off its proxy fight victory, Anworth Mortgage (ANH +1.1%) boosts its buyback program by 10M shares. Under pressure from Western Investment, the company lifted the repurchase plan by 10M shares in March and by 5M late last year.
    • The float is about 139M shares.
    • Source: Press Release
    • Shares +1.7% AH
    • Previously: Western Investment proxy fight fails
    | Comment!
  • May. 23, 2014, 7:05 AM
    • All six of Anworth's (ANH) director-nominees have been reelected, with each getting at least 72% of the vote, according to a preliminary count, says Anworth.
    • "The Board's Strategic Review Committee will continue to work with Credit Suisse to identify specific transactions to execute Anworth's announced diversification strategy and make recommendations regarding potential capital markets transactions."
    • Source: Press Release
    • Previously: Anworth responds to activist claims; talks about new investments
    | Comment!
  • May. 15, 2014, 9:22 AM
    | Comment!
Visit Seeking Alpha's
ANH vs. ETF Alternatives
Company Description
Anworth Mortgage Asset Corp is in the business of investing in U.S., agency mortgage-backed securities, or agency MBS, which are obligations guaranteed by the U.S. government, such as Ginnie Mae, or federally sponsored enterprises.
Sector: Financial
Country: United States