Seeking Alpha

ChuckJ

ChuckJ
Send Message
View as an RSS Feed
View ChuckJ's Comments BY TICKER:
Latest  |  Highest rated
  • Annaly selling low and buying high? Management discusses [View news story]
    "I appreciate your candor" usually is translated as F-off by the big boys. We'll see what happens to $NLY and others after last year's management actions.
    Feb 27 07:29 AM | Likes Like |Link to Comment
  • Goodrich maintains Tuscaloosa potential, shares rebound 3% [View news story]
    Glad I picked up some more C and D shares.
    Feb 21 04:05 PM | Likes Like |Link to Comment
  • Another slide in book value at American Capital; early Q1 looking good [View news story]
    The full scoop on $AGNC

    Fourth Quarter 2013 Financial Highlights
    " $(0.99) comprehensive loss per common share, comprised of:
    o $(0.28) net loss per common share
    o $(0.71) other comprehensive income/(loss) ("OCI") per common share
    " Includes net unrealized losses on investments marked-to-market through OCI
    " $0.75 net spread and dollar roll income/(loss) per common share, comprised of:
    o Interest income, net of cost of funds (including interest rate swaps) and operating expenses
    o Estimated net carry loss (also known as "dollar roll income/(loss)") of $(0.02) per common share associated with the Company's net short position in agency mortgage backed securities ("MBS") in the "to-be-announced" ("TBA") market
    o Estimated "catch-up" premium amortization benefit of $0.07 per common share due to a change in projected constant prepayment rate ("CPR") estimates
    " $0.65 estimated taxable income per common share
    " $0.65 dividend per common share declared on December 18, 2013
    " $0.59 estimated undistributed taxable income per common share as of December 31, 2013
    " $23.93 net book value per common share as of December 31, 2013
    o Decreased $(1.34) per common share, or -5%, from $25.27 per common share as of September 30, 2013
    " -2.7% economic return on common equity for the quarter, or -10.8% annualized
    o Comprised of $0.65 dividend per common share and $(1.34) decrease in net book value per common share
    Other Fourth Quarter Highlights
    " $68.2 billion agency MBS investment portfolio as of December 31, 2013
    o Includes $2.3 billion net long TBA mortgage position as of December 31, 2013
    " $237 million investment in mortgage REIT equity securities as of December 31, 2013
    o Consists of common stock investments across the agency mortgage REIT sector
    " 7.5x "at risk" leverage as of December 31, 2013
    o 7.3x leverage excluding net long TBA mortgage position as of December 31, 2013
    o Increase of 0.3x from September 30, 2013 "at risk" leverage of 7.2x
    " 7.5x average "at risk" leverage during the quarter
    o 7.6x average leverage during the quarter excluding net TBA mortgage position
    " 8% actual portfolio CPR for the quarter
    o 7% average projected portfolio life CPR as of December 31, 2013
    o Excludes net TBA mortgage position
    " 1.39% annualized net interest rate spread as of December 31, 2013
    o Increase from 1.37% annualized net interest rate spread as of September 30, 2013
    o Excludes net TBA mortgage position
    " 1.56% annualized net interest rate spread and TBA dollar roll income/(loss) for the quarter
    o Includes -1 bps of estimated TBA dollar roll loss
    o Includes 14 bps of "catch-up" premium amortization benefit due to change in projected CPR estimates
    " 28.2 million shares of common stock repurchased during the quarter
    o Represents 7% of common shares outstanding as of September 30, 2013
    o $20.82 per share average repurchase price, net of expenses
    o Existing share repurchase authorization increased by $1 billion to $2 billion for total purchases of outstanding shares of common stock since the inception of the buyback program through December 31, 2014
    2013 Full Year Financial Highlights
    " -12.5% economic return on common equity
    o Comprised of $3.75 in dividends per common share and $(7.71) decrease in net book value per common share
    " $(4.47) comprehensive loss per common share, comprised of:
    o $3.28 net income per common share
    o $(7.75) OCI per common share
    " $2.48 estimated taxable income per common share
    o Estimated undistributed taxable income decreased from $2.18 per common share as of December 31, 2012 to $0.59 per common share as of December 31, 2013
    " 57.5 million shares of common stock issued during the year
    o $31.33 per share offering price, net of expenses
    " 40.3 million shares of common stock repurchased during the year
    o $21.25 per share average repurchase price, net of expenses

    ChuckJ
    Feb 3 06:02 PM | 1 Like Like |Link to Comment
  • Annaly: No One Is Talking About Insider Buying, But They Should Be [View article]
    I was short until just before the div. I'm currently long, hoping I've not made the wrong move.
    Jan 21 05:09 PM | Likes Like |Link to Comment
  • Annaly: No One Is Talking About Insider Buying, But They Should Be [View article]
    1. Who buys 181,000 shares of stock?
    2. I own it at 11 and I'm planning on holding it at least until I can see who of the big guys (like GS, etc) made increases or decreases in their holdings during the fourth quarter.
    Jan 17 01:25 PM | Likes Like |Link to Comment
  • Bells ringing on mortgage REITs? Goldman says Sell [View news story]
    The NASDAQ web site says GS has 2m+ shares and increased their buy by 166% as of the Sept 30 SEC report.
    Dec 7 02:51 PM | 2 Likes Like |Link to Comment
  • Bells ringing on mortgage REITs? Goldman says Sell [View news story]
    Remind us of where to find how many $AGNC and $NLY shares that GS owns.
    Dec 7 11:55 AM | Likes Like |Link to Comment
  • Bells ringing on mortgage REITs? Goldman says Sell [View news story]
    I thought that was JP Morgan Chase, was it GS too?
    Dec 7 11:04 AM | Likes Like |Link to Comment
  • Bells ringing on mortgage REITs? Goldman says Sell [View news story]
    That was my point
    Dec 6 08:22 AM | Likes Like |Link to Comment
  • Bells ringing on mortgage REITs? Goldman says Sell [View news story]
    I wonder where you find how much Goldman owns now and how much they owned 6 months age?
    Dec 5 08:14 AM | 3 Likes Like |Link to Comment
  • Mortgage REITs continue slide amid higher rates [View news story]
    Or $2.5
    Aug 20 08:18 AM | Likes Like |Link to Comment
  • Mortgage REITs continue slide amid higher rates [View news story]
    I'm waiting, there's plenty of time and issues ahead.

    ChuckJ
    Aug 19 10:18 AM | Likes Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Interestingly, not a lot of short covering going on.
    Jul 30 03:52 PM | 1 Like Like |Link to Comment
  • American Capital Agency Q2 "comprehensive" EPS of -$2.37 [View news story]
    Congratulations Scott Kennedy you got the price just right >3%!!!

    ChuckJ
    Jul 29 07:53 PM | 1 Like Like |Link to Comment
  • American Capital Agency's Upcoming Q2 2013 Book Value Projection (As Of June 30, 2013) [View article]
    Scott:
    Do you have a prediction for the stock price Monday after the report (up or down)? I'm thinking we may learn something as the announcement approaches by watching the trend. Do you agree?
    Jul 28 08:30 AM | 1 Like Like |Link to Comment
COMMENTS STATS
72 Comments
26 Likes