Non-agency mREITs boosted at Compass Point

|By:, SA News Editor

Compass Point is bullish on (certain) non-agency mREITs with the group overall trading at sizable discounts to book value and maybe having priced in not just the recent interest rate rout, but future routs to come.

In addition to Ellington Financial (EFC) started at a Buy (yes, we know EFC is a LLC, not a REIT), the firm also initiates Dynex (DX) and MFA Financial (MFA) with Buys.