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American Capital Agency Corp. Message Board

stockmeister3 9 posts  |  Last Activity: Mar 26, 2014 8:59 PM Member since: Jun 22, 1999
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  • Reply to

    Dividend run

    by hatedahft Mar 25, 2014 1:43 PM
    stockmeister3 stockmeister3 Mar 26, 2014 8:59 PM Flag

    no - didn't discuss it in their earnings presentation - I'm sure they'd like to keep it quiet, but somehow it was revealed that AGNC bought HTS shares - and maybe mtge did as well ... don't know for sure. What they did clarify is that they only bought agency reit stock ... not hybrid reit stock - because it was/is easier to value. Also - said that the stock purchases and the MSR purchases weren't supposed to take away from stock repurchases - though I'm sure they must at least on the margin.

  • Reply to

    Dividend run

    by hatedahft Mar 25, 2014 1:43 PM
    stockmeister3 stockmeister3 Mar 26, 2014 8:10 PM Flag

    Kain clarified/confirmed in the conf call that mtge was NOT buying mtge stock and vice versa. Said that there would be too many instances where each company would be prohibited from trading in the company's stock - because of insider info dead periods.

  • Reply to

    Dividend run

    by hatedahft Mar 25, 2014 1:43 PM
    stockmeister3 stockmeister3 Mar 26, 2014 4:40 PM Flag

    btw - it also doesn't make sense to me that agnc trades @ a $1.50 premium to mtge. currently the same dividend, but when earnings are released, I think we'll see that mtge could have increased it's dividend by a $.05. Maybe they are being conservative, or buying back more stock or more likely - using some extra cash to build their servicing portfolio - which will hopefully allow them to bring down their hedging costs somewhat.

  • Reply to

    Dividend run

    by hatedahft Mar 25, 2014 1:43 PM
    stockmeister3 stockmeister3 Mar 26, 2014 3:43 PM Flag

    agree ... don't get it ... mkt sells off, bonds rally into the close ... it's ex-div for mtge .... BV will be up for the qtr and the stock sells off ... strange

  • Reply to

    WMC filed

    by alkkov Mar 25, 2014 9:14 AM
    stockmeister3 stockmeister3 Mar 25, 2014 2:17 PM Flag

    I believe it's just a shelf offering ....

  • Reply to

    WMC, AGNC, MTGE, NLY

    by alkkov Mar 20, 2014 4:16 PM
    stockmeister3 stockmeister3 Mar 20, 2014 9:14 PM Flag

    wmc's biggest holdings are in 3.5% 30 yrs and 3% 20 yrs; they've got a decent tranche of 4% 30 yrs. bottom line is that that wmc was trading at a big premium to book because of their outsized divvy. Now that they've cut the divvy - it may be look out below. wmc is down $.52 in the after hours. I think mtge is better positioned to invest it's higher cash runnoff in higher yielding new issue mbs - 3.25% - 3.5% 15yr and 4- 4.5% 30 yr. Their increased duration outlook also decreases hedging costs and spreads going forward.

  • Reply to

    WMC, AGNC, MTGE, NLY

    by alkkov Mar 20, 2014 4:16 PM
    stockmeister3 stockmeister3 Mar 20, 2014 5:31 PM Flag

    as to WMC - realize that: "The February 28, 2014 ... estimated book value ($15.18) is as of February 28, 2014 and does not reflect the dividend announced today." .... as such the BV acccounting for the $.67 dividend is actually around $.45 less or $14.73 - assuming the benefit of an additional month of core earnings in March. In short - WMC pays a great dividend, but they scare me a bit since they still have lots of 30 yrs and haven't adjusted their portfolio like agnc and mtge.

    I agree that mtge seemed to have room to increase their divvy to $70 - and I also wonder if they didn't want to show up agnc. mtge and agnc have really diversified their portfolios and with lots of 15 and 20 yr mtgs they get lots of monthly runnoff to reinvest - further protecting against rate increases. I think mtge is the most diversified of the bunch. I do wonder if this qtrs earnings for agnc and mtge will reflect the dividend income they get on the agency mreit stock they hold. I'm pretty sure they are on accrual accounting - so the income should show up in 1st qtr earnings even though not received till the end of April.

  • stockmeister3 stockmeister3 Mar 13, 2014 4:05 AM Flag

    agree - mreits rally tracked the rally in the 10 yr and mbs ...

  • Reply to

    EARN - raise to .55c

    by alkkov Mar 12, 2014 5:13 PM
    stockmeister3 stockmeister3 Mar 12, 2014 6:13 PM Flag

    mtge would seem to have similar ability to increase its div by a nickel, but who knows what mgmt is thinking ...

AGNC
21.88-0.23(-1.04%)Apr 17 4:00 PMEDT

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