Unusual mREIT Day

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.




2 Responses to Unusual mREIT Day

  1. Marc says:

    Have nice ANH and little CMO(about to go). Sold rest pre divy waiting for drop which never came.

  2. cg says:

    Hi hh,
    Got the beautiful picture of the heritage rose, beautiful but I have a very hard time visualizing how you have trained that tree/bush of a rose to stay put in a window box. Quite a feat.

    On another note I also have some GKK. Have it in my personal picks of stocks with a chance of doubling this year. Wondered if there really is a pulse here. Saw that they were buying back pr A’s and that got them a really nice bounce Monday but can you bring out the tarot cards and do a small reading into their future.
    Clearly no interest in this one on the other board.

    Also congrats on the money made with ELN. It has been one of the many small to medium size health stocks that have made me ill trying to figure out why/when they would do what they do.

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