Apartment Reits were beginning to look very good and this IPO was offering the market another Apartment Reit. Seven days of down markets caused them to hold off the IPO. This was announced last thursday, Apartment reits are going to do well in general financially raising rents and market prices and dividends. I suspect it is a matter of time (based on market conditions) until the RMI ticker IPO is brought to market. It is a very small equity reit with about a $100 million market cap. About 20% to be owned by NYMT automatically.
NYMT should let us know what's going on however if they are pulling out of it.
You're not looking too hard then. The big news is out that the Charlotte based REIT ticker RMI IPO has been postponed due to unfavorable market conditions last thursday. NYMT was to contribute real estate to that in return for 20% of the new company and potential for increased and even controlling interest over time. Also, RMI is a RiverBanc offering and Riverbanc is owned in part by NYMT.
Typical hit for Mreits this quarter. Nothing special. All in all, they did the best they could in a market where MBS values dropped. Stuff like this happens when you invest in Mreits.
Fairly positive results that are attributed to the market volitility and well managed by WMC. Bought more while it was still in the $13 range.
Sentiment: Strong Buy
Relax. OHI is up for the week and for the last five days. S&P 500 is down for the week and the last five days. Longer trend, equity healthcare reits are out of favor and will come back in favor. OHI is moving along with other healthcare reits. I wouldn't sell now that this sector has established a start of a reversal.
So Gracie, you are predicting three months out? How can you sound so sure? Alot can happen between now and then.
$.67 div 14.45 BV Also interesting that I don't see any Mreits lowering their dividends this quarter from the announcements so far. I think we will see this confirmed by WMC after market close.
Given the run up in MBS and treasuries this quarter by about 4/10ths versus 1st qtr., and given the WMC duration of the hedged portfolio of .83 on March 31st, what will be the impact on NAV and Core earnings as a result of their hedging with $6.8 billion fixed pay rate swaps and $655 Million pay fixed swaptions? I'm am guessing that core earnings will continue to be stronger than 1st quarter with a modest decline in NAV in the 2-3% range.
Normally occurring the third thursday of the month which is thursday this week after market close. However a delay would mean more time is needed for WMC to calculate a change in what to pay. Either more or less than the expected 67 cents.
I hope they announce this thursday June 18th with no change. Waiting another week may mean a problem.
We're continuing to be getting closer to a new 52 week high of $15.81 since I first posted this. Of course, the ex-div date will knock it down. Even the announcement will if the dividend is reduced. What the heck is going on with 10 year treasuries by the way? Yo Yo moves...
The last conference call response was favorable towards keeping the dividend the same even though earnings were bumpy. That's what I heard. I don't think they want to disappoint investors after a comment like that.