mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
some are already 10-20% below their book value, so that trade is done. Also some mREITS invest in only adjustable rate agency mortgages. So they dont have that same risk. You have to understand that not all mREITS have the same strategy as AGNC, which is inherently a much higher risk, higher reward strategy. I prefer CMO which has none of the inherent high risk that AGNC does. Also CMO is far below its book value of 13.60
Mortgage REITs continue to get repriced for lower yields going forward with earnings reports from JPMorgan and Wells Fargo not bringing good news. Both banks reported sliding net interest margins and booming mortgage business (some, if not most of which is refinancing) - an ugly combination for leveraged owners of MBS. [View news story]
none of this affects CMO's book. those that are selling it in sympathy to the others are uneducated sellers imo... CMO is completely diff from NLY AGNC ARR and all those other ones
Earnings Show 11.87% Dividend Payer Capstead Mortgage Co. Is A Thriving Enterprise [View article]
very well written article. I concur with your assessment of CMO and its relatively mitigated risks compared to all the other mREITS in the sector. Its a different animal than all the others.
A happy ending looks to be in store for Capstead Mortgage (CMO) investors today, as the stock moves into positive territory after earlier tumbling 7.5% in minutes for no apparent reason. [View news story]
i agree. I lost money in the AGNC drop and was very frustrated. I decided not to play their game today with CMO, and was able to add some. it can be very frustrating
Capstead Mortgage (CMO) declares $0.36/share quarterly dividend. For shareholders of record Sep 28. Payable Oct 19. Ex-div date Sep 26. Shares -2.1% premarket. (PR) [View news story]
the price you pay for being the safest mREIT in the market. The spreads on these 1 year adjustables is getting squeezed as everyone starts to try to horn in on CMO's action... The trade off is the book value will increase significantly.
High-Dividend Capstead Mortgage Corp.'s Strategy May Be Perfect For Current Market Conditions [View article]
i must say i dont know what all the fuss is about AGNC or NLY. those two are very very risky.. I agree with your assesments on CMO, it is by far the least risky mREIT out there. For investors like myself its the only choice. Dont know why more people don't follow it
Investors pounce on 3 mortgage REITs going ex-dividend today - Annaly (NLY +1%), Capstead (CMO +1.9%), and AG Mortgage (MITT +2.8%) are all sharply higher, nearly making up in less than a session all of the value erased from their stock prices due to the dividend payment. [View news story]
CMO is the lowest risk of all the mREITS. check out the fundamentals of their book and you will see why its totally different than the others
I Am Shorting Annaly And Bearish About mREITs [View article]
While i certainly agree with most of your conclusions, i see you also wisely left out the best, safest mREIT out of your list. CMO has very short duration risk therefore virtually no interest rate risk and because of short duration, also faces very little re-fi risk. You should check out the business model of CMO, it is the best return vs. risk stock out there in my opinion.
Agency MBS fail to bounce from the "massive liquidation" following Bernanke's testimony yesterday, according to CIBC's Tom Tucci. Suggestions of a tapering of Fed purchases sent Fannie Mae MBS with 3% coupons to their lowest levels of the year. "Right now it seems the only source of demand is the Fed," says BAML's Brad Scott. Unsurprisingly, pure agency mREITs like AGNC and ARR hit 52-week lows today. Annaly (NLY) - now diversified into the commercial space with the CXS purchase - outperforms. [View news story]
User.... it got down to 11.95 yesterday before bouncing nearly .40, thats a big % move and shows that smart money realizes that the indescrimenent selling of CMO as if it were just like all the other mREITS is a huge buying opportunity.
Agency MBS fail to bounce from the "massive liquidation" following Bernanke's testimony yesterday, according to CIBC's Tom Tucci. Suggestions of a tapering of Fed purchases sent Fannie Mae MBS with 3% coupons to their lowest levels of the year. "Right now it seems the only source of demand is the Fed," says BAML's Brad Scott. Unsurprisingly, pure agency mREITs like AGNC and ARR hit 52-week lows today. Annaly (NLY) - now diversified into the commercial space with the CXS purchase - outperforms. [View news story]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
aagree, but right now its got mortgage in its name so they sell it, they should put "floating rate" or adjustable rate" in their company name and it wouldnt get pushed around so much
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
While i see some of what you are saying... you cant just say rates would go down, since at this time 80% of the market is made up of transactions by the federal reserve. Its not a real market anymore, therefore nobody can really say for sure what will happen to rates. right?
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
Hey corvette kid, in calling CMO a completely diff company, i was referring to a comment by itscalledcommonsense who was referring to the meltdown that CMO had in 1998 when it was a much riskier business model, not to the selloff from a few days ago... However, you are right, if higher rates are your concern (which it certainly should be with mREIT investors), CMO has divorced itself from most other mREITs with their investing strategy. Look forward to your analysis and valuation tables and estimates! I will keep an eye open
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
i know exactly what they buy. the volatility is simply because of the sector. its a small stock so it can get pushed around, but everytime it gets hit the smart money comes in. I have analyzed this company as much as an investor can. I listen to all the conference calls, read all the filings, everything. Their book is nothing like AGNC, NLY, or CIM, ARR, or any of those. The closest match would be HTS, with the exception that CMO's average duration with hedging is about 3 months.
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
Mortgage REITs continue to get repriced for lower yields going forward with earnings reports from JPMorgan and Wells Fargo not bringing good news. Both banks reported sliding net interest margins and booming mortgage business (some, if not most of which is refinancing) - an ugly combination for leveraged owners of MBS. [View news story]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
Earnings Show 11.87% Dividend Payer Capstead Mortgage Co. Is A Thriving Enterprise [View article]
A happy ending looks to be in store for Capstead Mortgage (CMO) investors today, as the stock moves into positive territory after earlier tumbling 7.5% in minutes for no apparent reason. [View news story]
Capstead Mortgage (CMO) declares $0.36/share quarterly dividend. For shareholders of record Sep 28. Payable Oct 19. Ex-div date Sep 26. Shares -2.1% premarket. (PR) [View news story]
High-Dividend Capstead Mortgage Corp.'s Strategy May Be Perfect For Current Market Conditions [View article]
Investors pounce on 3 mortgage REITs going ex-dividend today - Annaly (NLY +1%), Capstead (CMO +1.9%), and AG Mortgage (MITT +2.8%) are all sharply higher, nearly making up in less than a session all of the value erased from their stock prices due to the dividend payment. [View news story]
I Am Shorting Annaly And Bearish About mREITs [View article]
Agency MBS fail to bounce from the "massive liquidation" following Bernanke's testimony yesterday, according to CIBC's Tom Tucci. Suggestions of a tapering of Fed purchases sent Fannie Mae MBS with 3% coupons to their lowest levels of the year. "Right now it seems the only source of demand is the Fed," says BAML's Brad Scott. Unsurprisingly, pure agency mREITs like AGNC and ARR hit 52-week lows today. Annaly (NLY) - now diversified into the commercial space with the CXS purchase - outperforms. [View news story]
Agency MBS fail to bounce from the "massive liquidation" following Bernanke's testimony yesterday, according to CIBC's Tom Tucci. Suggestions of a tapering of Fed purchases sent Fannie Mae MBS with 3% coupons to their lowest levels of the year. "Right now it seems the only source of demand is the Fed," says BAML's Brad Scott. Unsurprisingly, pure agency mREITs like AGNC and ARR hit 52-week lows today. Annaly (NLY) - now diversified into the commercial space with the CXS purchase - outperforms. [View news story]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]
mREITs During Q1: More Bad News, But A Few Winners Emerge [View article]