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American Capital Mortgage Investment (MTGE)

- NASDAQ
  • Wed, Jul. 29, 4:17 PM
    • Q2 net spread and dollar roll income per share of $0.52 vs. $0.49 in Q1. Both results include $0.08 per share in servicing loss. Dividend is $0.50.
    • Book value per share of $20.70 vs. $22 a quarter earlier. Today's close of $16.10 is a 22.2% discount to book. 3.7% economic net loss for the Q based on the $0.50 dividend minus the $1.30 decline in book value.
    • CPR on agency holdings of 8.1% vs. 7.7% in Q1. 4.1x "at risk" leverage vs. 4.2x in Q1.
    • Servicing portfolio remains at about $13B in UPB. Q2 servicing income of $11.4M and expenses of $15.5M.
    • Conference call tomorrow at 11 ET
    • Previously: American Capital Mortgage reports Q2 results (July 29)
    • MTGE flat after hours
    | Comment!
  • Wed, Jul. 29, 4:08 PM
    • American Capital Mortgage (NASDAQ:MTGE): Q2 EPS of -$0.80
    • Net interest income of $37.78M (-5.0% Y/Y)
    • Press Release
    | Comment!
  • Fri, Jul. 24, 3:01 PM
    • Just a 1% decline in the major averages (which are being helped by some high-profile earnings moves) is masking far greater carnage in a number of other sectors, notably healthcare (XLV -2.5%) and energy (XLE -2%).
    • Business development companies and mortgage REITs are being socked again as well, suggesting the worry may go beyond interest rates and to credit in general, especially as commodity prices continue to tumble - to pick one, crude oil at $48.06 per barrel is at its lowest price in about four months.
    • Among BDCs: Hercules Technology Growth (HTGC -4.2%), Triangle Capital (TCAP -3.3%), PennantPark Investment (PNNT -5.4%), Prospect Capital (PSEC -1.4%), Main Street Capital (MAIN -2.8%), TICC Capital (TICC -2.4%), KCAP Financial (KCAP -2.6%), THL Credit (TCRD -2.7%), FS Investment (FSIC -1.8%).
    • Among mREITs: Armour Residential (ARR -3.1%), Two Harbors (TWO -0.9%), CYS Investments (CYS -2%), Invesco Mortgage (IVR -1.5%), Capstead Mortgage (CMO -1.2%), Apollo Residential (AMTG -2.6%), Arlington Asset (AI -3.7%), American Capital Mortgage (MTGE -0.9%), Orchid Island (ORC -5.8%).
    • MReit ETFs: MORL, REM, MORT, LMBS
    • BDC ETFs: BDCL, BDCS, BIZD, FGB
    | 82 Comments
  • Tue, Jul. 7, 8:03 AM
    • A sell-sider finally steps into the carnage in the mortgage REIT sector. Upgraded to Outperform from Market Perform: Annaly Capital (NYSE:NLY), American Capital Agency (NASDAQ:AGNC), PennyMac Mortgage (NYSE:PMT), American Capital Mortgage (NASDAQ:MTGE), AG Mortgage (NYSE:MITT), MFA Financial (NYSE:MFA), CYS Investments (NYSE:CYS), Capstead Mortgage (NYSE:CMO), and Chimera Investment (NYSE:CIM).
    • NLY +0.6%, AGNC +0.5%, MTGE +1.9%, MFA +0.9% premarket
    • ETFs: MORL, REM, MORT, LMBS
    | 76 Comments
  • Fri, Jun. 26, 3:31 PM
    • Equity REITs are mostly being spared any punishment today, but mortgage REITs are hitting multi-year lows across the board as the 10-year U.S. Treasury yield climbs seven basis points to 2.48%.
    • Annaly Capital (NLY -4.7%) hasn't seen a price this low since Alan Greenspan was nearing the end of his rate hike cycle in 2000. American Capital Agency (AGNC -3.7%) is at its lowest price since the bottom of the financial crisis.
    • Armour Residential (ARR -2.9%), Two Harbors (TWO -4.5%), Chimera Investment (CIM -4.8%), CYS Investments (CYS -3.7%), American Capital Mortgage (MTGE -5.4%), Capstead Mortgage (CMO -4.5%), Anworth Mortgage (ANH -4.3%), AG Mortgage (MITT -3.3%), Ellington Residential (EARN -5.3%), Orchid Island (ORC -3.9%).
    • ETFs: MORL, REM, MORT, LMBS
    | 128 Comments
  • Mon, Jun. 15, 4:12 PM
    • American Capital Mortgage (NASDAQ:MTGE) declares $0.50/share quarterly dividend, in line with previous.
    • Forward yield 11.61%
    • Payable July 27; for shareholders of record June 30; ex-div June 26.
    | 4 Comments
  • Wed, Apr. 29, 4:14 PM
    • Q1 net spread and dollar roll income of $0.49 per share doesn't include $0.08 per share in net servicing loss. Income was $0.68 in Q4, $0.67 in Q3. Dividend is $0.50.
    • Book value per share of $22 vs. $21.91 at the start of the year. Today's close of $17.70 is almost a 20% discount to book.
    • Economic return - change in book value plus the dividend - for the quarter of 2.7%, or 11% annualized.
    • CPR on agency holdings of 7.7% vs. 8% in Q4. Leverage of 4.5x vs. 4.6x.
    • As with American Capital Agency, management has repositioned the portfolio to a more defensive posture.
    • Servicing portfolio of about 65K loans with roughly $13B in UPB. Q1 servicing income of $11.8M, expenses of $16.1M.
    • Conference call tomorrow at 11 ET
    • Previously: American Capital Mortgage reports Q1 results (April 29)
    • MTGE +0.3% premarket
    | Comment!
  • Wed, Apr. 29, 4:03 PM
    • American Capital Mortgage (NASDAQ:MTGE): Q1 EPS of $0.59
    • Net interest income of $37.45M (-11.2% Y/Y)
    • Press Release
    | Comment!
  • Wed, Apr. 29, 8:08 AM
    | 12 Comments
  • Fri, Mar. 20, 9:47 AM
    • The company last night cut its quarterly dividend to $0.50 per share vs. $0.65 previously. It's enough for Wunderlich to throw in the towel on its Buy call, and the firm downgrades to Hold with price target cut to $18.50 from $21.50.
    • The cut isn't a total surprise to Jason Stewart at Compass Point who downgraded the stock six weeks ago on worry that margin pressure had boosted the chances of a reduction in the dividend.
    • The current price of $18.12 is a 17.3% discount to Dec. 31 book value.
    • MTGE -1.7%
    | 24 Comments
  • Thu, Mar. 19, 4:27 PM
    • American Capital Mortgage (NASDAQ:MTGE) declares $0.50/share quarterly dividend, -23.1% decrease from prior dividend of $0.65.
    • Forward yield 10.85%
    • Payable April 27; for shareholders of record March 31; ex-div March 27.
    | 5 Comments
  • Thu, Mar. 19, 4:17 PM
    • The quarterly payout of $0.50 per share is down from $0.65 previously. The annualized yield falls to 10.8%.
    • Source: Press Release
    • MTGE -0.65% after hours.
    | Comment!
  • Mon, Feb. 9, 7:36 AM
    • "Core EPS beat our expectations, but the longer term outlook for growth in taxable income was muted in the current rate environment," says Compass Point's Jason Stewart, downgrading to Neutral from Buy. "We believe margin pressure and a lower contribution of dollar roll income pose a risk to core earnings power and increase the potential for a dividend cut in 2015."
    • Stewart does say that investments in credit risk transfer securities and MSRs should ultimately result in a premium valuation vs. securities-only peers (MTGE currently trades for 85% of book value), but the time-period for these initiatives to scale up has lengthened from earlier expectations.
    • MTGE -1.5% premarket
    | Comment!
  • Wed, Feb. 4, 4:20 PM
    • Q4 net spread and dollar roll income of $0.67 per share excludes negative $0.03 of estimated "catch-up" premium. In Q3, it was $0.68. Dividend is $0.65.
    • Book value per share of $21.91 slips from $22.24 at end of Q3. Today's close of $18.63 is a 15% discount to book.
    • Economic return - dividend plus gain/loss in book value - of 1.4%, or 5.8% annualized.
    • CPR on agency holdings of 8% vs. 8.9% in Q3. CPR in January of 7.7%.
    • Net interest spread of 2.24% down 10 basis points from Q3.
    • $5.9B investment portfolio includes $4.4B of agency paper, $1.2B of non-agency. 4.6x "at-risk" leverage.
    • Servicing portfolio of about 66K residential mortgage loans with $14B UPB. Company booked a loss of $0.09 per share during quarter (not included in headline income number).
    • Conference call tomorrow at 11 ET
    • Previously: American Capital Mortgage beats by $0.01 (Feb. 4)
    • MTGE flat after hours
    | 1 Comment
  • Wed, Feb. 4, 4:03 PM
    • American Capital Mortgage (NASDAQ:MTGE): Q4 EPS of $0.67 beats by $0.01.
    • Press Release
    | Comment!
  • Tue, Feb. 3, 5:35 PM
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Company Description
American Capital Mortgage Investment Corp operates as a REIT. It invests in, finance and manage a leveraged portfolio of mortgage-related investment, non-agency mortgage investments and other mortgage-related investments.
Sector: Financial
Country: United States