Did anyone else note the large drop in BV from Dec 2012 to Feb 2013? This seems like a very large decrease in such a short period of time. I suspect the SPO price will be somewhere around that number ($6.70) considering the size of the offer.
it seems to be the fed rate of early repayment that brings down the value of investments
It actually has more to do with which groups of mbs's they've bought. Not all mreit managements are equal.
This is a drop of $1 in about 6 months.
The pref issuance should have helped it.