MTGE looks like it is going to end Q3 below $19. What I want to know is who the hell is selling? It certainly seems to be unsymmetrical. Investors just sell and no one buys. Look at AGNC. 3weeks ago it was trading at a p/b of 0.95 and now that p/b is 0.81. Has anything substantial really happened over the last 3 weeks to cause such a dramatic downturn? Reik does bring up a good point. What are these dark pools actually being used for? Why are they legal?
Why in lords name was MTGE beaten down to $19 today? Days like today make me really wonder why I invest in mreits. The friggin 10 year is going to end Q3 unchanged yet the p/b continues to get beaten down. One would think they would represent a flight to safety and would bounce when the stock market gets hammered. But Noooooo.....
Well......I feel better now anyway....
SDRL down below 27 today getting REALLY stupid when WF just comes out with a sell rating.
Sold NADL out yesterday and just bought some back. Will buy more if it gets hit again tomorrow. This short term insanity is in sharp contrast to their long term drilling contracts.
Sounds like you are going over the dividend cliff then. Doubtful you will see much much change tomorrow. Good luck.
Wasn't the 10 yr around 2.35 at the of august? All things being equal wouldn't that make the current BV before div lower than August 31? Maybe I am missing something but that BV doesn't sound so great.
Good job alkkov. Wish I sold it all at that level and bought back at 6.25. But whateva. Another rough day for NADL. We could be seeing another leg down. Hope it gets to 6 so I can buy more.
SDRL is not an ADR by the way. It is fully listed. But I hear you. I guess my point was oil price, majors cutting back on offshore drilling, Russian sanctions, etc. was a bigger issue for the stock.
Wow. I am with you on NADL. It appears that the Ukraine and Russia are about to kiss and make up (right before it gets friggin cold. Who da thought?) so who knows how long those sanctions will last. I have to think big oil will rule out here.
With respect to Fredriksen companies, have you looked at MHG? Russians love their salmon after all.
Oh wait...the US is bombing Syria...Russia won't be pleased...
Good point. The strong USD has not helped. Given the other factors driving the price down though I am not really paying attention to the USD/NOK exchange rate. I don't consider SDRL a Norwegian stock just as I don't think RIG is a Swiss stock. The sector is just so global as you know. I am sure the executives at Exxon are regretting having a US headquarters these days. You can imagine how #$%$ off they must be.
But MTGE is down more than the stock market. UST are going up today as a flight to safety in a falling market. Are there really that many mreit investors that have no clue what they are investing in?
I do appreciate the response and with AI I see that spillover selling that you are talking about. This is such a broad attack on a large number of mreits that I can't help but be more skeptical. AGNC's p/b is down below 0.85 which make me wonder what happens next week. How low will these things get pounded to once they go ex?
Maybe it is as simple as Getco wanting to steal a cheap dividend. Where is Reik?
Just felt like typing 'dividend run'. Brings back a warm memory.
Can anyone explain how MBS are up yet mreits are getting smacked a few days before they go ex? I know mreits live in a wacky world but some days are sillier than others.
Good. I saw JMI take a hit but didn't really know why. Just too lazy to look into it. Did you through the money into ORC? That seems to have held up. So far anyway.
So SDRL is down 5% on what news? That drilling has been halted in the arctic according to 'sources'? That seeking alpha has put out a report on this?
But this came out today on rigzone:
"Exxon is continuing exploration drilling in the Kara Sea," Russian Natural Resources Minister Sergei Donskoi told Reuters. He declined to provide details.