you're down 3 months worth of divs. what a great investment.
now you're waiting 3 months to get your own money back to break even. good plan, eh ?
what happens when they cut the div again ?
not only does the div drop, the share price drops too.
remember, they have -never- increased the div, only cut it.
look at their div history, it's true.
and when they announce next quarter, with a big BV drop, do you think they will increase or decrease the div?
meanwhile, AGNC, MTGE and WMC keep on rockin' all up over 1% today, ARR down 0.5% today.
there are better mreits out there, don't get fooled by a monthly payout of a quarterly dividend they declare on a quarterly basis. That's just them hanging on to your money longer.
You should always buy after the secondary offerings. If you look at the historical data it always goes back up to the post secondary offer. Always. Sometimes it takes days, weeks, or even a few months but it always goes back. You can easily make 10-20% just by buying the dips and selling when it gets the post secondary price. If the price takes awhile then guess what you get all the monthly dividends. This is almost always a win-win stock if you wait.