- Analyst Fred Small rings the register on his Sell rating on CYS Investments (NYSE:CYS), upgrading to Neutral.
- As pure of a play of agency REIT as you'll find, CYS has been badly punished by the bond bear market, down 20% just in 2018. The company hasn't reported its Q4 yet, but book value at the end of Q3 was $8.60. Yesterday's close of $6.39 was a 25% discount to that.