nick, I am long ARR. Basically all the reits have rallied bigtime the past 2 days with the exception of CIM and ARR. You can look for yourself. NLY, AGNC, MTGE are all up significantly the past 2 days. Apparently CIM and ARR are in the doghouse. Unfortunately the Market is totally ignoring the .07 monthly dividend and concerned about the shrinking NAV. You asked for legit comments. I think I provided one.
It's too bad you have to filter out the stupid replys, but I am disappointed is the PPS this week. I don't see any facts in the latest 8k that support the drop, but maybe someone does. My only guess is that there was not any buy back and maybe that was expected. A 300bps drop in leverage BV should be holding, but possibly with that there is a concern with a reduction in spreads. Ethereal way you slice it, the PPS right now is probably a good $1.25 discount to the current BV.
No. PRCM does not think so. It is one of their largest new positions. There is quite a bit of dumb chatter about ARR.. Just a stock full of an emotional shareholder base.. both long and short. More scientologists than scientists on this topic.
lenyw: CIM is not in the doghouse. And most people (what you call the market) are irrational, indecisive little sheep. So much indecision that they should come with a pair of t eye ts.