- There don't appear to be too many issues with the quarter - as is being seen with other agency REITs, income dipped, but book value gained as the yield curve narrowed in Q3. AGNC's (AGNC -1.5%) economic return topped 22% on an annualized basis for the quarter.
- A near-10% premium to book value, however, may have mREIT fans looking for cheaper alternatives.
- AGNC earnings presentation slides
- Also on the move down post-earnings is Armour Residential (ARR -1.6%) - the company posted another strong quarter, but trades at a barely visible discount to book value.
- Eking out gains after reporting last night are relatively cheaper alternatives CYS Investments (CYS +0.1%) and Capstead Mortgage (CMO +0.2%).
- Other players today: Annaly (NLY -1.2%), Chimera (CIM -0.4%), MTGE Investment (MTGE -0.4%), MFA Financial (MFA -0.4%), Anworth (ANH -0.6%), AG Mortgage (MITT -0.2%), Dynex (DX -0.6%)
- ETFs: MORL, REM, MORT
- Now read: 10% Dividend Yield Is Scarier Than Any Halloween Monster
Original article