Chimera Has Two Good Investment Options While MTGE Has One Bad Option [Seeking Alpha]
MTG INVESTMENT CORP COMMON (MTGE)
Last mtg investment corp common earnings: 5/3 04:01 pm
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US:NASDAQ Investor Relations:
ir.mtge.com
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Source: Seeking Alpha
Summary This security is a big fat sell. MTGE Investment Corp. ( MTGE ) currently has a preferred share in the sell range. The major issue with MTGEP is that it is just at too big of a premium to par value. Chimera Investment Corporation ( CIM ) has two better option in CIM-A and CIM-B. MTGE & CIM portfolios MTGEP invests in agency MBS and non-agency MBS. They also have a couple other investments in credit sensitive securities. Overall I rate their portfolio as not too risky. CIM is securitizing transactions and they are taking on more credit risk, but in the securitized transactions the creditors would not have access to CIM if the deal falls apart. CIM tends to take on more credit risk from my view because of their role in securitized transactions. Preferred shares Let’s look at the prices: MTGEP is well over my ‘Sell Over’ price of $25.87. CIM-A and CIM-B are both materially into the hold range. They also offer a better alternative
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