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chowzer

chowzer
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  • Dissection Of American Capital Agency's And Annaly Capital Management's Q4 Earnings Announcements [View article]
    One of the problems I had with AGNC (which I have previously held) is that, if I read things correctly, they earned $4.41 per share and paid $6.00 in dividends. This looks like a major dividend cut to me.

    MTGE, on the other hand, earned $8.72 and paid $3.60 in dividends. This is why I shifted to MTGE with the same management team as AGNC.
    Mar 8 10:51 PM | Likes Like |Link to Comment
  • Why I Am Sticking With American Capital Agency Corp [View article]
    Actually, the Fed has not said anything about home prices as such. They have only stated their targets for inflation and unemployment.
    Feb 4 03:38 PM | 1 Like Like |Link to Comment
  • 2013 Outlook For Agency Mortgage REITs [View article]
    Why buy the ETF which includes bad and mediocre stocks when you can just buy the good individual names? My pick is AGNC but the article points out several others.
    Dec 26 03:25 PM | 1 Like Like |Link to Comment
  • It's a jittery mortgage REIT sector as last night's election assures the Fed will continue to strangle the leveraged operators' net interest margins. Annaly (NLY -2.8%) - the purest of the pure-play agency REITs - still reeling from Monday's poor earnings, leads to the downside. AGNC -2%, TWO -2.3%, HTS -2.1%[View news story]
    Thanks for the info, Claude.
    Nov 7 04:30 PM | Likes Like |Link to Comment
  • It's a jittery mortgage REIT sector as last night's election assures the Fed will continue to strangle the leveraged operators' net interest margins. Annaly (NLY -2.8%) - the purest of the pure-play agency REITs - still reeling from Monday's poor earnings, leads to the downside. AGNC -2%, TWO -2.3%, HTS -2.1%[View news story]
    I guess you lost me. It's my understanding that the "dividends" from AGNC are already taxed at the regular income rate, not at the dividend rate.
    Nov 7 10:17 AM | 1 Like Like |Link to Comment
  • With The Fed Spending $40 Billion Per Month, Should Investors Flee Mortgage REITs? [View article]
    Andy, I would partially disagree with your statement "The purpose of the mREITs is purely dividend income." AGNC makes it clear in their filings and public statements that protection of book value per share is more important to the company than protection of dividends.
    Nov 5 10:57 AM | 1 Like Like |Link to Comment
  • Coping With Mortgage REIT Chaos Part II: Additional Thoughts [View article]
    It's hard to keep your head and not just pull the plug when there are these flash crashes. However, it's my personal opinion that AGNC will surprise the naysayers with their next earnings statement.
    Oct 18 02:49 PM | Likes Like |Link to Comment
  • These Mortgage REITs Are Poorly Hedged [View article]
    I thought I understood the mREIT model and especially why AGNC was able to achieve low CPRs and the use of leverage, etc. Thought I was pretty sophisticated on the subject, in fact. Didn't think that you could really tell what the hedges were or their effects from what mgmt was disclosing. I thought that you had to trust that mgmt hopefully knew what they were doing on the hedging issue. Then you guys had to go writing about convexivity, etc. and I just liquidated my position until I can at least understand what you are talking about. Any help with "Hedging MBS Portfolios For Dummies" would be appreciated.
    Oct 5 09:48 AM | Likes Like |Link to Comment
  • These Mortgage REITs Are Poorly Hedged [View article]
    I flunked Mortgages 101.
    Oct 4 10:00 AM | Likes Like |Link to Comment
  • The mortgage REIT sector is lit up green following Western Asset Mortgage's (WMC +7.3%) big dividend increase last night and the upping of its book value by 12% since June 30. That jump in book value could have investors wondering what other mREITs might be harboring such good news. [View news story]
    eggs all in one basket: AGNC. watching basket very carefully.
    Sep 21 10:24 AM | 3 Likes Like |Link to Comment
  • How The Yield Curve Affected mREIT Dividends [View article]
    RS, thanks for your articles and comments which are always right on.
    Sep 14 11:05 AM | 2 Likes Like |Link to Comment
  • How The Fed Could Send mREITs Higher [View article]
    sorry, that's what i meant, but it's still a pretty small amount of the overall market.
    Sep 14 10:55 AM | Likes Like |Link to Comment
  • How The Fed Could Send mREITs Higher [View article]
    I agree that the Fed will be a relatively small player at $40 M purchases a month.
    Sep 14 01:11 AM | 1 Like Like |Link to Comment
  • A Closer Look At American Capital Agency's Cash Flows As Of Q2 2012 [View article]
    Whoa, what a thorough and understanding analysis! Thank you so much.
    Sep 11 02:37 PM | Likes Like |Link to Comment
  • The success of the mortgage REIT industry (both in garnering AUM and providing shareholder returns) is swell, writes Sober Look, but will end as another chapter in the story of leverage. Borrowing short and lending long, the companies are exposed to rising rates and the chance of financing being cut off - threatening not just shareholders, but U.S. mortgage markets. [View news story]
    My personal opinion (you know what they say about opinions) is that the overall market would suffer a tremendous downdraft and investors would head for the returns of mREITs.
    Sep 11 01:12 PM | Likes Like |Link to Comment
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42 Comments
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