Just a quick rant to complain about the sputtering start of the Q2 mREIT earnings season. Dynex Capital (DX) had to replace its earnings release; book value and portfolio duration were misstated in the original version. At least Dynex got it done in a timely fashion -- FBR Group (FBR), which has a 9:00 am ET Thursday conference call, just released (it's after 10 pm Wednesday now) its second-quarter earnings. I skimmed the release; no serious accounting issues or any particular reason that FBR's earnings should have been delayed so long after the bell. Maybe I should just be happy to see a release -- Gramercy Capital (GKK) has yet to produce anything despite its 2pm ET conference call tomorrow.
Maybe I'm just cranky; maybe it's just a coincidence. In any case, it's an ominous start to the Q2 2008 earnings season.
Maybe I'm just cranky; maybe it's just a coincidence. In any case, it's an ominous start to the Q2 2008 earnings season.
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