Dividends4Life: 9.78% Yield Easily Covered

9.78% Yield Easily Covered

Posted by D4L | Monday, August 29, 2016 | | 0 comments »

There are only a few mortgage REITs in my portfolio. This stock easily covered its dividend and smashed analyst expectations. The increase in book value per share is just as impressive as the earnings, though BV/share comes within $0.05 of my estimates. By my estimates, BV is higher today, on 08/01/2016, than it was on 06/30/2016. My old rating is a buy. No changes are made to the rating so far.

True to my expectations, American Capital Mortgage Investment (NASDAQ:MTGE) declared $0.46 in net interest spread and dollar roll income per share (excluding "catch-up" amortization). That beats analyst estimates by $.05 and beats the prior quarter by $0.02. Compared to the quarterly dividend rate of $0.40, the earnings look very solid. Perhaps the best part is the mortgage REIT declaring net book value of $19.47 per share.

Source: Seeking Alpha

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