Mortgage REITs have fallen sharply on concerns that positive economic data would trigger the Federal Reserve to slow down its $85 billion in monthly bond purchases. On Friday, the Labor Department reported the U.S. added 195,000 jobs in June sending the yield on 10-year Treasury notes to a high of 2.719 percent, the highest since August 2011. "Mortgage REITs are very susceptible to the risk of rising short-term rates. Until recently, mortgage REITs have benefited from the Fed’s easy money policy. The Fed’s historically low near-zero interest rate makes financing cheap, allowing mortgage REITs to use leverage to provide an attractive yield. However, because these firms are so extensively leveraged, they are very susceptible to interest-rate fluctuations," said Morningstar ETF analyst Abby Woodham.
American Capital Agency Corp. (NASDAQ: AGNC) shares traded in the range of $22.75 to $23.23 Thursday before settling to close at $23.21, an increase of 2.20 percent. The stock appears to be facing resistance at the $24.11 and $25.16 levels with some support at $22.37. Shares of American Capital Agency have fallen approximately 25.0 percent over the past three months.
More information on American Capital Agency and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AGNC
CYS Investments Inc. (NYSE: CYS) shares traded in the range of $7.81 to $7.98 Thursday before settling to close at $7.92, an increase of 1.54 percent. The stock appears to be facing some resistance at the $8.06, $8.86 and $9.24 levels. Shares of CYS Investments have fallen approximately 35.0 percent over the past three months.
More information on CYS Investments and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CYS
Hatteras Financial Corp. (NYSE: HTS) shares traded in the range of $19.13 to $19.42 Thursday before settling to close at $19.18, a decrease of 0.16 percent. The stock appears to be facing some resistance at the $19.34, $19.66 and $20.24 levels. Shares of Hatteras Financial have fallen approximately 35.0 percent over the past three months.
More information on Hatteras Financial and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HTS
Annaly Capital Management, Inc. (NYSE: NLY) shares traded in the range of $11.65 to $12.14 Thursday before settling to close at $12.12, an increase of 4.12 percent. The stock appears to be facing resistance at the $12.18 and $12.47 levels with some support at $11.87. Shares of Annaly Capital Management have fallen approximately 20.0 percent over the past three months.
More information on Annaly Capital Management and access to the free equity report can be found at:
www.WallStreetFundamentals.com/NLY
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