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Anworth Mortgage Asset Corporation Message Board

  • hotpanera2 hotpanera2 Sep 25, 2009 2:45 PM Flag

    temporary negative for anh

    All of the other MREITS (except CYS about which there is an interesting Seeking Alpha article) have already declared their dividends. Until ANH declares, many would rather buy a known quantity in a quarter where some are lowering the dividend compared to Q2 (CMO and AGNC). If ANH declares at least .32, it should get a nice pop IMHO compared to the other MREITS. .30 is probably worst case and at 7.86 (without even backing out accrued div of about .25) the yield would be 15.3%. All in all this is a good entry point.

    For those written on the Oct 7 1/2 calls, it might be worth rolling them out to April for a .10 credit, as I did yesterday for some of my position. It will decrease the chance of being assigned significantly, unless the stock really goes higher. And even if you get called, you have taken out a little more by rolling.

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    • yield apparently doesnt matter any more.

      • 1 Reply to lgregor33
      • While I am very long ANH, I am expecting onlyy 30 cent distribution. I believe that last quarter they earned 32 cents and distributed all of it, but perhaps I mis-read something.

        If they indeed pay 32 cents this will jump to $8.25 in a heartbeat. At 30 cents distribution, I believe it is now fairly priced....less than 30 cents and we could see $7.60 area or lower.

        Just my opinion, I prefer to estimate on the conservative side and be pleasantly surprised.

        Nice week-end to all. i have 35 contracts of Dec $7.50 calls sold, and am uncertain if they will get called out.

        Also have naked puts for Jan $7.50 and today sold some April $7.50 for 75 cents...Difficult for me to see how this could trade significantly lower than book value for a prolonged period of time.

        Susan

 
ANH
4.69+0.040(+0.86%)May 4 4:02 PMEDT