Mortgage REITs rally after MTGE lifts dividend [Seeking Alpha]
MTG INVESTMENT CORP COMMON (MTGE)
Last mtg investment corp common earnings: 5/3 04:01 pm
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Source: Seeking Alpha
Mortgage REITs rally after MTGE lifts dividendWith short rates on the rise and the yield curve flattening, many are expecting lower earnings and then dividend cuts for the mortgage REIT sector (REM+1%).MTGE Investment (MTGE+2.2%) - trading at a sizable discount to book value - last night may have surprised a few withan 11% increase in its quarterly payout. MTGE, however, is a non-agency player, and thus less dependent on the structure of interest rates than pure-agency REITs such as its cousin, AGNC Investment (AGNC+1%).Nevertheless, the entire mREIT sector - agency and non-agency - is lit up green this session. Others: Annaly (NLY+0.7%), Armour (ARR+1.6%), Two Harbors (TWO+1.5%). Chimera (CIM+1.4%), CYS (CYS+1.2%), Invesco (IVR+1.9%), New York Mortgage (NYMT+1.5%), Western Asset (WMC+2%), Anworth (ANH+1.1%)ETFs:MORL,REM,MORTSee all stocks on the move »
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