It is trading at $18.25, 94% of the pro-forma book - including the SPO additional shares/receipts with the 3/31/12 book value, for an adjusted book value of $19.31. That is from their presentation. Could it be investors punishing them for the highly dilutive SPO? Anyone have any information or thoughts on AMTG?
iokuok wrote: "Could it be investors punishing them for the highly dilutive SPO?"
That information was known when this was running over 19 recently.
The mReit sector is weak right now. Take a look at REM's intra day chart over the last several weeks. A lot of stocks are getting hit like AMTG is. Take a look at HTS, IVR, MITT, CYS, CMO, DX, TWO, NLY, etc.
I don't think most of the other reits are trading at such a big discount to book. I don't follow some of the non-agency as closely, but I have ARR, MITT, MTGE, AMTG, and sold CYS and they are much closer to, or over, book value.
I take it PSEC is just down with the over all market.