You guys may want to look at the Seeking Alpha article of Sept 24th on this hybrid REIT. This thing could be a double plus dividends.
Projected Effect of AMTG Preferred Capital, Annualized September 24, 2012
Preferred shares issued and outstanding 6,900,000
Net preferred share capital raised $166,600,000
Leveraged asset yield* 18.70%
Yield spread income on leveraged preferred capital $31,154,200
Less, preferred dividends: 13,800,000
Yield spread income available to common shareholders $17,354,200
Per common share $0.72
EPS as of June 30 2012, annualized $5.88
EPS increase due to preferred capital 12.2%
Current dividend yield, $0.85 per quarter, share price $23.22 14.60%
Expected twelve month dividend payout: EPS $6.60 x 90% $5.94
Anticipated twelve month share price at 14.6% yield $40.68
AMTG is getting real close to a buy here. Completed 5 waves down with the 5th wave being the extended wave. Coming in to the bottom trend line of the upward channel. Pays a 15.9% dividend at this SP of 21.40.