ARR is 100% hedged, and only deals in fed backed mortgages. If people are selling cause of this news, then they don't know what they own. They should also contrast the eps p/e and leverage rate against other reits. ARR is in a good position from what I see, and pure conjecture isn't going to change my opinion.
Their debt may be hedged, but the value of their assets is not. If the 10 year rate rises, their book value will take a hit. This has rallied when the 10 year topped 3% and reversed course back down to 2.6%. It was overbought on with an RSI level over 78. Rates are going back up toward 3% again. Who knows if the Fed will ever have the guts to increase the Fed funds rate, but the mere talk of it is enough to let the air out of this recent rally in mREITs. Don't get greedy. You made over 1 year's worth of dividends in about 8 weeks. Plus, if this is selling over book value, there is always the risk of a secondary offering.