American Capital Agency (AGNC -0.7%) is getting no pressure from its lenders to reduce leverage in light of the decline in mortgage prices, says CIO Gary Kain, responding to a question at the Morgan Stanley conference (webcast) (slides). If anything, he says, AGNC has room to take up leverage to an even higher level (it averaged 8.2x in Q1). Previous: The presentation discloses book value loss in Q2 through June 7 is similar to that of Q1. [View news story]
American Capital Agency (AGNC -0.2%) estimates a similar decline in book value through June 7 as that experienced in Q1 (8.6%), putting June 7 book value at $26.44. At the current price, the stock is trading at about a 7% discount to book. The numbers were disclosed in slides prepared for the company's presentation at the Morgan Stanley conference at 3:35 ET this afternoon. [View news story]
I'm thinking if $AGNC dividend doesn't go below $1.00, the price will keep dropping because they will just be digging a deeper hole.
Annaly Capital (NLY) CEO Wellington Denahan exercised on May 9 options to purchase 100K shares of company stock at $13.25 each (today's close $14.73), upping her stake in the company 11% to more than 1M shares. [View news story]
Well, that was part of her compensation, wasn't it?
I wonder if anyone knows what the real value of the assets they hold are?
More on American Capital Mortgage Investment (MTGE) Q1 earnings: Like sister company AGNC (also with Gary Kain as CIO), MTGE reports a big mark-to-market loss ($1.66/share) on agency MBS. Loss partially offset by $0.64 gain on non-agency holdings. Spread income of $0.62 - NIM of 2.01%, off 6 bps from Q4. Book value of $24.25/share, down 5.8% from Dec. 31. Shares -2.3% AH after 3.5% loss in regular session. (PR) [View news story]
I think this will be a technical trader's market until their problems get figured out.
More on American Capital Mortgage Investment (MTGE) Q1 earnings: Like sister company AGNC (also with Gary Kain as CIO), MTGE reports a big mark-to-market loss ($1.66/share) on agency MBS. Loss partially offset by $0.64 gain on non-agency holdings. Spread income of $0.62 - NIM of 2.01%, off 6 bps from Q4. Book value of $24.25/share, down 5.8% from Dec. 31. Shares -2.3% AH after 3.5% loss in regular session. (PR) [View news story]
I listened to the conference call yesterday. It was clear to me they got outsmarted by the perceived early fed policy change (earlier tightening). They said they had corrected for it and had seen improvements last month, but not enough to correct. They were asked directly if this would effect the dividend and did answer it but not by a yes or no and you would have to go listen to it (or read the transcripts) to draw your own conclusion but mine was they were going to do everything they could to not change it. This was the first time I had listened to it so I can't really compare their demeanor to prior quarter conferences, but they were guarded, but still confident in my opinion. That said, the major bleeding stopped during the conference and began and continued after.
Invesco Mortgage Capital Inc (IVR) declares $0.65/share quarterly dividend, in line with previous. For shareholders of record Dec. 24. Payable Jan. 28. Ex-div date Dec. 20. (PR) [View news story]
$IVR Div announcement: 12/14/12 xdiv: 12/20/12
Currently up $.27 after the close Friday. We'll see what Monday brings. Hope that helps.
There's no dividend cut for American Capital Agency (AGNC), which holds its payout at $1.25/share. There's no special dividend either, meaning the company likely was able to buck up the regular payment by using capital gains from the sale of MBS. Shares +1.8% AH. (PR) [View news story]
CYS announced 12/10/12 with only a $.05 div drop and has not had an up day yet (down $.27).
American Capital Agency Corp. (AGNC) declares $1.25/share quarterly dividend, in line with previous. For shareholders of record Dec. 27. Payable Jan. 28. Ex-div date Dec. 24. Shares +2.3% AH. (PR) [View news story]
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
Some good news: $AGNC announcement date:12/14/12 Ex-div date: 12/24/12 Payment date: 1/28/13 Payment: $1.25
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
TMK: Why do you think AGNC is holding off on their 4th Qtr dividend announcement?
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
Maybe that is what is holding up the AGNC announcement.
CYS Investments (CYS) declares $0.40/share quarterly dividend. For shareholders of record Dec. 21. Payable Dec. 28. Ex-div date Dec. 19. Additionally, the board declares special dividend of $0.52/share payable with regular dividend. Shares +1.5% AH. (PR) [View news story]
Exactly what is the tax bill? Is it ordinary income tax? If that's 25% wouldn't the CYS owner get the other 75%?
More on CYS Investments' (CYS) special dividend: How does a mortgage REIT - which must pay out nearly all of its earnings as dividends - salt away the money for a special dividend? At these high level of MBS prices, companies can sell holdings for rainy-day money such as this - it's how many mREITs maintain a dividend in the face of lower returns. The issue for CYS now - its slush fund is empty and returns may remain weak going forward. Shares +2% premarket. [View news story]
CYS was up this morning as I expected but now it's down. Why do you guys think mREITs are down on this move when effectively CYS just added a lot of value to the upcoming dividend?
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]
I thought mReits were mortgage REITs. What commercial and healthcare are you referring to and what do they yield?
American Capital Agency (AGNC -0.7%) is getting no pressure from its lenders to reduce leverage in light of the decline in mortgage prices, says CIO Gary Kain, responding to a question at the Morgan Stanley conference (webcast) (slides). If anything, he says, AGNC has room to take up leverage to an even higher level (it averaged 8.2x in Q1). Previous: The presentation discloses book value loss in Q2 through June 7 is similar to that of Q1. [View news story]
American Capital Agency (AGNC -0.2%) estimates a similar decline in book value through June 7 as that experienced in Q1 (8.6%), putting June 7 book value at $26.44. At the current price, the stock is trading at about a 7% discount to book. The numbers were disclosed in slides prepared for the company's presentation at the Morgan Stanley conference at 3:35 ET this afternoon. [View news story]
Annaly Capital (NLY) CEO Wellington Denahan exercised on May 9 options to purchase 100K shares of company stock at $13.25 each (today's close $14.73), upping her stake in the company 11% to more than 1M shares. [View news story]
I wonder if anyone knows what the real value of the assets they hold are?
ChuckJ
More on American Capital Mortgage Investment (MTGE) Q1 earnings: Like sister company AGNC (also with Gary Kain as CIO), MTGE reports a big mark-to-market loss ($1.66/share) on agency MBS. Loss partially offset by $0.64 gain on non-agency holdings. Spread income of $0.62 - NIM of 2.01%, off 6 bps from Q4. Book value of $24.25/share, down 5.8% from Dec. 31. Shares -2.3% AH after 3.5% loss in regular session. (PR) [View news story]
ChuckJ
More on American Capital Mortgage Investment (MTGE) Q1 earnings: Like sister company AGNC (also with Gary Kain as CIO), MTGE reports a big mark-to-market loss ($1.66/share) on agency MBS. Loss partially offset by $0.64 gain on non-agency holdings. Spread income of $0.62 - NIM of 2.01%, off 6 bps from Q4. Book value of $24.25/share, down 5.8% from Dec. 31. Shares -2.3% AH after 3.5% loss in regular session. (PR) [View news story]
This was the first time I had listened to it so I can't really compare their demeanor to prior quarter conferences, but they were guarded, but still confident in my opinion. That said, the major bleeding stopped during the conference and began and continued after.
ChuckJ
Invesco Mortgage Capital Inc (IVR) declares $0.65/share quarterly dividend, in line with previous. For shareholders of record Dec. 24. Payable Jan. 28. Ex-div date Dec. 20. (PR) [View news story]
Div announcement: 12/14/12
xdiv: 12/20/12
Currently up $.27 after the close Friday. We'll see what Monday brings. Hope that helps.
There's no dividend cut for American Capital Agency (AGNC), which holds its payout at $1.25/share. There's no special dividend either, meaning the company likely was able to buck up the regular payment by using capital gains from the sale of MBS. Shares +1.8% AH. (PR) [View news story]
American Capital Agency Corp. (AGNC) declares $1.25/share quarterly dividend, in line with previous. For shareholders of record Dec. 27. Payable Jan. 28. Ex-div date Dec. 24. Shares +2.3% AH. (PR) [View news story]
Ex-div date: 12/24/12
Payment date: 1/28/13
Payment: $1.25
$MTGE
Dividend announcement: 12/14/12
Ex-div date: 12/24/12
Payment date: 01/28/13
Payment: $ 0.90
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
$AGNC announcement date:12/14/12
Ex-div date: 12/24/12
Payment date: 1/28/13
Payment: $1.25
$MTGE
Dividend announcement: 12/14/12
Ex-div date: 12/24/12
Payment date: 01/28/13
Payment: $ 0.90
ChuckJ
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
Why do you think AGNC is holding off on their 4th Qtr dividend announcement?
ChuckJ
What's up with mortgage REITs and special dividends (first CYS, now AMTG)? REIT dividends have always been taxed as ordinary income, and thus won't be hit by a hike in the dividend tax rate. It smells of the companies trying to throw in some nominal good news amidst big dividend cuts. Trouble is, the use of this "slush fund" money now makes bigger cuts more likely in the new year. AMTG now -0.2% premarket. [View news story]
ChuckJ
CYS Investments (CYS) declares $0.40/share quarterly dividend. For shareholders of record Dec. 21. Payable Dec. 28. Ex-div date Dec. 19. Additionally, the board declares special dividend of $0.52/share payable with regular dividend. Shares +1.5% AH. (PR) [View news story]
ChuckJ
More on CYS Investments' (CYS) special dividend: How does a mortgage REIT - which must pay out nearly all of its earnings as dividends - salt away the money for a special dividend? At these high level of MBS prices, companies can sell holdings for rainy-day money such as this - it's how many mREITs maintain a dividend in the face of lower returns. The issue for CYS now - its slush fund is empty and returns may remain weak going forward. Shares +2% premarket. [View news story]
ChuckJ
Invesco Mortgage Capital (IVR): Q3 EPS of $0.72 beats by $0.07. (PR) [View news story]
ChuckJ
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]
ChuckJ