Investors Turn to High Yielding REITs During Market Unrest
The Bedford Report Provides Equity Research on Chimera Investment & Annaly Capital Management NEW YORK, NY -- (Marketwire) -- 08/16/11 -- In the aftermath of S&P's downgrade to the US' credit rating investors are looking for safe havens. Traditionally, high yielding REITs garner attention due to their reliable income. As REITs, these companies are typically not taxed on their income but are required to pay out 90 percent of their taxable income in dividends. The Bedford Report examines the outlook for diversified REITs and provides equity research on Chimera Investment Corporation (NYSE: CIM) and Annaly Capital Management, Inc. (NYSE: NLY). Access to the full company reports can be found at:
Most Mortgage REITs have portfolios made up principally of mortgages insured by the federal agencies Fannie Mae, Freddie Mac and Ginnie Mae. They typically borrow at low rates and lend in the mortgage markets at higher rates, usually by buying mortgage-backed securities. By purchasing bonds guaranteed by the government, analysts argue these companies take on no risk of default, with the principle concern being an interest rate risk. The good news for REIT investors is that The Fed last week announced that it would hold its benchmark interest rate near zero for at least through mid-2013, replacing an earlier promise to keep it there for "an extended period."
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Presently Chimera Investment Corporation pays an annual dividend of 52 cents a share for a hefty yield of around 16.8 percent. Chimera invests in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes. Over half of the company's portfolio is invested in non-agency MBS.
Annaly presently pays an annual dividend of $2.60 a share for a yield of around 14.5 percent. Earlier this month the company reported GAAP net income for the quarter ended June 30, 2011, of $120.8 million or $0.14 per average share available to common shareholders as compared to GAAP net loss of $218.2 million or $0.40 per average share available to common shareholders for the quarter ended June 30, 2010.
The Bedford Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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