I guess that floor collapsed. CYS trading well below most other mReits on a BV/percentage basis. Obviously institutions didn't like the movement into the 30-year, when others were doing the exact opposite. Down but not out, it will recover with time. Dividend should be about 2 cents higher than last quarter, unless the company keeps some revenue for additional purchases.
until the 10 yr has a ceiling, CYS doesnt have a floor. i'm still stuck with a small position unfortunately. i really never want to look at an mREIT ever again. at this point you have to pray the stampede out of bonds stops.