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American Capital Agency Corp. Message Board

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  • joetong419 joetong419 Feb 8, 2013 3:16 PM Flag

    so when do we start looking for an SPO?

    Other mREIT haven't offered SPO since July of 2012.
    SPO, if offered, won't occur until after ex-dividend 3/xx/13 and at higher share price (above 33) IMO.
    AGNC might finally be out of the doghouse since 11/2012 with yesterday's positive comments.

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    • They wouldn't SPO between a div announcement and ex-div (I'd be willing to sue them for pump-and-dump if they did), but they sure could SPO before they announce. Announcement isn't due for over a month.

      But you have to assume they find this level of price relative to BV to be sufficient. They still need to pay the underwriters and give a discount to the market in a SPO, so it should have to run another few % upwards to give them a comfortable buffer.

      They also need to see a reason to have the cash to buy the MBS.

      If you could get those two things, and if they haven't annouced the div, then the SPO could be called imminent.

 
AGNC
19.78-0.04(-0.20%)Sep 27 4:00 PMEDT