After an impressive 2012, mortgage REITs have struggled in 2013 due to rising interest rates. Yields for the benchmark 10-year note have risen from lows of around 1.63 percent in May to around 3.0 percent currently. The iShares Mortgage Real Estate Capped ETF (NYSEARCA: REM) and the Market Vectors Mortgage REIT ETF have both fallen approximately 10.0 percent year-to-date. Mortgage REITs had benefited previously from an ultra-low interest rate environment as it attracted home owners to refinance their mortgage rates. "When rates rise, REITs will have to allocate more cash to debt servicing and less to business reinvestment and dividend payouts to investors. Higher rates will also make REIT yield less attractive, putting downward pressure on the sector’s valuation." stated Morningstar analyst Abby Woodham.
American Capital Agency Corp. (NASDAQ: AGNC) shares traded in the range of $23.12 to $23.50 Thursday before settling to close at $23.32, an increase of 0.56 percent. The stock appears to be facing some resistance at the $24.19 and $28.24 levels with some support at $22.84. Shares of American Capital Agency have fallen approximately 19.0 percent in 2013.
More information on American Capital Agency and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AGNC
ARMOUR Residential REIT, Inc. (NYSE: ARR) shares traded in the range of $4.04 to $4.10 Thursday before settling to close at $4.04, a decrease of 1.22 percent. The stock appears to be facing some resistance at the $4.21 and $4.66 levels with some support at $3.78. Shares of ARMOUR Residential have fallen approximately 38.0 percent in 2013.
More information on ARMOUR Residential and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ARR
Hatteras Financial Corp. (NYSE: HTS) shares traded in the range of $18.40 to $18.64 Thursday before settling to close at $18.49, an increase of 0.71 percent. The stock appears to be facing some resistance at the $18.66 and $19.66 levels with some support at $17.71. Shares of Hatteras Financial have fallen approximately 25.0 percent in 2013.
More information on Hatteras Financial and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HTS
Invesco Mortgage Capital Inc. (NYSE: IVR) shares traded in the range of $15.60 to $15.88 Thursday before settling to close at $15.71, an increase of 0.77 percent. The stock appears to be facing some resistance at the $15.96 and $16.41 levels with some support at $15.42. Shares of Invesco Mortgage Capital have fallen approximately 20.0 percent in 2013.
More information on Invesco Mortgage Capital and access to the free equity report can be found at:
www.WallStreetFundamentals.com/IVR
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