I did the same right after Dividend. But bought a while ago @ 26 and change and sold (extended hours) for 33. My info and my gut is telling me to stay out and even to get rid of 'safer' investments. When the government spends more than the GNP (they have been for the last 5 years) and keeps printing money, something has to give; unlike 2008, this time it's not coming out of my pocket. If and when productivity starts to grow at a fair level (%2.5 - %4) l will be buying on the dips. I really hope I'm wrong about this latest bubble. Good for you for doing what you felt was right.
Why so weak? Because Benny Boy talks about "risk" and possibly mucking around with "leverage" some institutions employ...and earlier, Dudley (of the FED) also spoke about this...i.e. just get the heck out of mREIT COMMON stocks...and move over to the safer PREFERRED stocks of these companies (AGNCP)....FIXED PAYOUTS / get paid first, so much safer in those....RSOPRB / NRFPRC / NRFPRD / ARRPRB, etc etc.....(I'd NOT be in any common stocks of this group until the govt stops targeting them....and mucking around....But I do wish you luck, if you remain in the common shares, tho).
Just go to 'dividendyieldhunter' to find the good REITS with yield-to-calls of 7.5%-8.5%....and gives duration dates of the preferred paper...updates...good site to do homework)
I hate to say it but I'm going to say it - you don't sell on weakness and buy on strength.
Try this: go back to news articles for AGNC starting around August of 2012 and through the end of the year. Filter these by articles that talk about QE3 being announced.
Nearly unanimously these articles said QE3 would be bad for profitability and keep pressure on margins - sell sell sell. Now that QE3 is possibly winding down you'll see articles saying QE3 ending will hurt REITs.
Which is right? They both are, and they're both wrong as well. We expect more hedging activity to take place and book value to go down. We expect spread income ("margins" for those poorly informed authors) to increase.
In every REIT quarterly there is bad news. There is also good news. You'll have to learn to stomach such moves if you want to play in this space.
You waited until now to get out? Seems like it has to be close to a bottom. The low this year was last Nov when it hit $28.08 I think it was. Don't think it will go lower than that before sellers quit selling, shorts quit shorting and buyers start stepping in again.