Nickspinner, Have you considered it might be you. You seem to buy a perfectly good stock like AGNC or WNC with no problems that I can see:) Then they turn to she _ _. Take a look at ARR it seems to be doing good.
I don't know what the truth is but I've been reading some analysts opinions that rather than just a dividend cut when interest rates rise the highest leveraged reits could cut their payout to zero. Would be interested in someone's logic as to whether or not that is likely.
Most likely the plunge over the last months started when some of the large holders dumped after the BV loss reported for Q1. Then the small holders panicked and started dumping shares in 100 share lots. Then the moron big Ben opens his mouth to insert foot and the rest is history. Tomorrow will be a possible turning point. If the jobs number (which I full expect will be another inflated lie from the "independent" BLS) is low or worse, the markets will likely rally based on the BOE and ECB actions today. If, as expected, the manipulation of the numbers by Oblamer's minions are overstated, the market bears will have a field day selling. The smart mreits that prepared for rising interest rates, WMC, IVR et al, will eventually prosper from their positioning. But the BV drops coming from the rising rates will, more than likely, scare more holders into dumping and taking an actual, rather than a paper, loss.
AGNC and MTGE bought into Bernanke's blather in Q1 and positioned for this increase in rates. Then, Bernanke reversed course at the end of March and rates dropped again. They were stuck with their hedges being hammered and their income not rising enough to cover the difference. Noe these hedges are well profitable, interest income has continued to rise and BV has been hit but not anywhere near where the sp is currently trading. It amazes me that these companies are so completely underestimated in there ability to handle this stuff.