Mortgage REITs: Ignore GAAP, It's All About the Cash [View article]
If the particular REIT is not going bankrupt i.e. there are no short term financing issues, and yielding over 15%, then reducing assets and buying back stock makes financial sense. Basically buying back dollars for 85 cents. There is opportunity in panic.
Mortgage REITs: Ignore GAAP, It's All About the Cash [View article]