Remember the dark days of 2008 and early 2009 when world markets crashed, thanks, in part, to over-speculation in something called mortgage-backed securities? While many financial firms went under, or got swallowed up on the cheap, other firms were able to capitalize on cheap, distressed asset prices and are still reaping the benefits of savvy, timely buying. This financial company's common stock yields over 10% and should have a special dividend coming in 2017. It also has a high-yield preferred stock yielding 7.6%, going ex-dividend this week, with huge coverage of over 20x. It has outperformed the market in the past month, quarter and YTD, but is still selling below book value. It has received multiple upward EPS revisions from analysts in the past 30 days.
MFA Financial (NYSE:MFA) is one of those companies which came through the storm and has continued to create value for shareholders via its high-yield dividends on both its common and preferred shares. MFA operates as an internally managed real estate investment trust (REIT) in the US. Unlike other real estate trusts, which own physical assets, such as shopping centers, healthcare facilities or office buildings, mREITs such as MFA don't usually invest in physical assets. Instead, MFA invests in residential mortgage assets, including agency and non-agency mortgage-backed securities (MBS), residential whole loans and credit risk transfer securities.
Source: Seeking Alpha
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This financial company's common stock yields over 10% and should have a special dividend coming in 2017. It also has a high-yield preferred stock yielding 7.6%, going ex-dividend this week, with huge coverage of over 20x. It has outperformed the market in the past month, quarter and YTD, but is still selling below book value. It has received multiple upward EPS revisions from analysts in the past 30 days.
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