This doesn’t happen very often — my mREITs are up while the financial index is down.
It’s especially heartening in several of my holdings I haven’t mentioned lately. For example, when ANH cut their dividend to 23 cents from 25, there were plenty of people who thought that would tank the stock price. Not so.
Then there’s the news from last Friday that Gramercy Capital (GKK) would be buying back some of their convertible preferred in a tender offer. I just wish I hadn’t taken profits on two thirds of the position before this announcement, but I’ll be happy I held onto some (up 20% today).
HTS has recovered most of its secondary offer plunge, and MFA saw their way clear to raise their dividend a few pennies — to 22.5 cents for the quarter.
The rest of the group is doing well, also, with NLY recovering some of the recent decline, and its non-Agency cousin CIM trading back over $4 a share.
The others are up varying amounts, as well, except for AGNC and WAC, and they’re only off a bit.