And the reason for this stock dropping below $30? When this was over $50 I would have agreed with you that it was way over priced. But here it is a good buy for a well run company. I would not be shorting this here. If you shorted from in the 50's you may have a little more time before you start losing, but if you are starting now you will lose.
I've owned it since '08. Its has been a good investment. They made it through the collapse and seem to be doing even better. They bought their debt back for pennies on the dollar as well as other things. They say they have several dollars worth of gains that currently does not show on their book. At least that is what I think I remember.
First let me say I own a lot of MREIT's including AGNC. But keeping interest rates low for too long will distort risks and misprice investments that could lead to another market melt down when the market thinks rates are too low. This would be very bad for not only the MREIT sector but for the economy too. QE3 should never had been done and is distorting mortgage markets and this increases risk. Interest rates need to begin to float so the risk of a sharp correction like we saw in the last 8 months does not happen again, and you see what happened to the MREIT's in this period of time.
Last year they announced on 9-14-12 so I would assume that their announcement will be some time next week. I do not think that the taper is all that bad as this will start to take away the fed's meddling in the housing market. We are already seeing housing sales dropping due to higher rates. To me this means that the rates are already to high and if the market was working correctly rates would come back down. QE3 did nothing to help the housing market but did hurt those who invest in MREIT's. Good Luck.