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Anworth Mortgage Asset Corporation Message Board

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  • blair.wagner@snet.net blair.wagner Dec 29, 2009 10:23 AM Flag

    Shelf Offering

    lET'S SEE:
    BV 7.60
    PE LESS THAN 7
    YIELD 15%
    gOVT BACKED

    Is there a better place to
    put your money?

    Shelf or no shelf!

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    • The debt to equity ratio of 5.28x's is higher than industry average; implying very poor management of debt levels.

      The shelf offering is being initiated in anticipation of higher rates down the road; which would severely impact profitability.

      The offering will substitute debt with equity; which will severely dilute the PPS.

      Revenues are down over 14% when comparing last quarter to previous year quarter.

      I'll sit on the sidelines until I can see a clearer picture.

 
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