I can't figure out whats up with NYMT.
The only negative in earnings was book didn't really rise, but also they are not an agency reit prior to this quarters earnings so that makes some sense.
They were not really playing in the feds MBS space.
They did go out and acquire a bunch of agency paper this past quarter which showed up in the Q3 earnings.
Not sure if this is spooking investors?
Hi xx, same here- I hold April 5.00 calls. I should have stuck to my original thoughts about getting back in mid November but eh- such is life.
I think the spread compression is making people bail and sell in droves- regardless of the results for the previous quarter- they are looking ahead and believing the divi will shrink
I think the market will ultimately price in a 10% to 15% dividend reduction. Currently NLY is at 90% of book, CYS at 86% of book, and ARR is at 88% of book, WMC is at 92% of book. The agency reits will be hit harder. I think the reit sector as a whole will continue down another ~5%. I took my $8,000 loss and fled to PSEC where I am down $4,300 on 8,700 shares. I don't understand why PSEC would trade at a 5% discount to book as it is a BDC with good earnings. Any thoughts on PSEC? I would be careful with reits right now. I may buy some reits in December to get some of the ex date run up, but now seems to be a bad time to be holding on to this sector IMHO.