It’s not just Annaly. Compass Point is ringing the register on a wide swath of the mortgage REIT industry today. American Capital Agency (AGNC -1.6%), Anworth Mortgage (ANH -1.3%), Armour Residential (ARR -1.2%), CYS Investments (CYS -1%), Hatteras (HTS -1.5%), and Western Asset Mortgage (WMC -1.4%) are all cut to Hold from Buy.
All have been big gainers this year, likely narrowing their discounts to book value and – in at least one case – maybe climbing above it.
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March 24th, 2014 at 10:36 am
Mortgage REIT sector downgraded by Compass Point
09:43 AM ET · AGNC