Just a few odds and ends here that merited a quick note...
Dynex Capital (DX) reported fourth-quarter earnings of $0.05/share and a GAAP book value of $8.22/share. The Company also declared a $0.10/share common stock dividend despite having continued net operating loss carryforwards (and therefore no taxable income). Dynex is optimistic about its future prospects, electing to pursue an agency MBS strategy in addition to its previously announced efforts in CMBS. Dynex stock was up on the earnings news and the future outlook.
MFA Mortgage (MFA) shares sank despite reporting $0.16/share in fourth-quarter earnings and improving its net interest margin by 29 basis points versus the prior quarter. Book value, however, was just $6.76/share, which may have prompted the pullback in the share price from a 1.6x book valuation to just 1.4x book value.
New York Mortgage Trust (NMTR.OB) announced that it had privately placed 15 million shares at $4.00.share. The $57 million in expected net proceeds is expected to be used to purchase agency MBS. NMTR continues to seek strategies to produce taxable income that can be used to offset their sizable deferred tax asset.
Dynex Capital (DX) reported fourth-quarter earnings of $0.05/share and a GAAP book value of $8.22/share. The Company also declared a $0.10/share common stock dividend despite having continued net operating loss carryforwards (and therefore no taxable income). Dynex is optimistic about its future prospects, electing to pursue an agency MBS strategy in addition to its previously announced efforts in CMBS. Dynex stock was up on the earnings news and the future outlook.
MFA Mortgage (MFA) shares sank despite reporting $0.16/share in fourth-quarter earnings and improving its net interest margin by 29 basis points versus the prior quarter. Book value, however, was just $6.76/share, which may have prompted the pullback in the share price from a 1.6x book valuation to just 1.4x book value.
New York Mortgage Trust (NMTR.OB) announced that it had privately placed 15 million shares at $4.00.share. The $57 million in expected net proceeds is expected to be used to purchase agency MBS. NMTR continues to seek strategies to produce taxable income that can be used to offset their sizable deferred tax asset.
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