Colorado Wealth Management Fund
REITs, micro-cap, small-cap, debt

The Best Of Breed mREIT, CYS Investments, Now Trades At A Substantial Discount To Peers

CYS Investments (NYSE:CYS) is an mREIT that invests exclusively in agency MBS with an emphasis on fixed rate mortgages with lower coupon rates that trade at substantially smaller premiums to par. Their hedge portfolio emphasizes hedging against short term rate movements rather than hedging farther out on the yield curve. Their portfolio and reporting is intentionally designed to run virtually every conceivable cost through Core EPS which results in higher quality non-GAAP measures. CYS is particularly interesting right now because they have sold off with the rest of the sector as book values collapsed for several mREITs. The irony of the situation is that CYS Investments was the mREIT that predicted this environment several months ago and structured

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
PRO Top long ideas returned 21.7% in 2016**
"As a PRO member, we get uniquely valuable perspective that go beyond our quantiative analysis... We rely on PRO to get beyond the numbers quickly and add much needed perspective. It keeps me ahead of the next big thing. - Mark Choate, Malaga Cove Capital"
Mark Choate, Malaga Cove Capital
"Contributors (writers and commentators), often have a long history in the secuirities they opine on and some are clearly well positioned industry participants with detailed industry views that can help provide color on where the skeletons are buried in a particular secuirity and/or industry."
Jim Roumell, Roumell Asset Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details