Meine TRADING-WELT

Ist AGNC 19.5% und NLY 23.3% auch High Yield?!

Wer bietet mehr?!

Oh, du hast was gepostet.

Ich habe keine gute Erfahrungen mit Mortgage REITs, NLY,ZIM,AGNC.
Deshalb habe ich nur ABR (Reit) im Depot.


Hier gibt es einen guten Artikel über NLY bzw. Mortgage Reits. 

Why Investors Should Never Purchase Mortgage REITs


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No surprise then that Annaly has raised equity twice just since May. There will likely be more raises.

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[i]Usually when you see a stock trading at 3x earnings and yielding 21%, you would want management to buy back shares, not dilute themselves further. [/i]

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We only modeled Repos heading to 3.25% (today’s level). Rates will likely continue northward until they hit 4.5% (per dot plots and Fed guidance).
In the example above, $0.56 of income evaporates to $0.15. Not only that, but Annaly should they choose to de-lever via selling bonds, will recognize losses on the portfolio.
And this is the crux of the problem with these vehicles. [i]They constantly are realizing losses, but paying out dividends excluding these losses![/i]
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https://seekingalpha.com/article/4545728...gage-reits 



Mortgage Reits profitieren im Gegensatz zu BDCs nicht von der Zinserhöhung.
   

“GLAD Call: We continue to be well positioned to benefit from the increase in short-term rates, with 93% of our investment portfolio subject to floating rates. And as of June 30, 71% of our debt was at fixed rates. Now that LIBOR has increased above the average LIBOR floor in the portfolio of 1.16%, we expect that for each 75 basis point increase above -- in LIBOR above the level as of 6/30, which was 1.8%, we will increase our quarterly net interest margin by $0.5 million and NII per share by $0.01. We continue -- we will continue to assess the outlook for [b]portfolio growth and net interest income increases to sustain any future increases to the shareholder distributions[/b].”

   

[b]TSLX Call:[/b] “We expect to see meaningful positive asset sensitivity in the back half of the year. The combination of the rising rates in Q2 are [b]now well above our average floor levels on our debt investments[/b] and the shape of the forward LIBOR or SOFR curve support that expectation. The rising rates will drive incremental interest income and outweigh the increases in the cost of our liabilities. To date, this has been [b]largely muted because applicable reference rate resets occurred during -- occurred earlier in the quarter[/b]. Based on the shape of the forward curve and reset dates of our issuers, we project the remainder of this year that rate movement loan will result in approximately $0.13 per share of incremental net investment income purely from the core earnings power of the portfolio relative to what we experienced in Q2.”





[b]ARCC Call:[/b] “Based on our estimates of increasing earnings from higher interest rates coupled with the strength of our investment portfolio, we have increased our regular quarterly dividend to $0.43 per share. The [b]second quarter increases in market rates have yet to fully flow through our earnings[/b]. We estimate our second quarter earnings would have been approximately [b]$0.05 per share higher if the market rate increases during the second quarter would have been in place for the full quarter[/b]. We believe we are well positioned for our earnings to benefit from further increases in short term market interest rates.”



[b]HTGC Call:[/b] “For the third quarter, we're increasing our core yield guidance range to 11.5% to 12%. As a reminder, approximately 95% of our debt portfolio is floating with a floor. So the [b]recent interest rate hike and any additional in 2022 will benefit our core yield going forward[/b]. But the other part of that is also that we're onboarding deals at a slightly higher yield relative to where we were 1 or 2 quarters ago.”

   

     

-  GLAD increased its regular monthly dividend by 4% on October 11, 2022

[b]      - GAIN[/b] increased its regular monthly dividend by 7% on October 11, 2022

[b]      - CSWC[/b] increased its regular quarterly dividend by 4% on September 20, 2022

[b]      - BXSL[/b] increased its regular quarterly dividend by over 13% on September 7, 2022

seekingalpha.com



Ich nutze die Kursschwäche aus, um 2 Dividendendepot aufzubauen.
Euro-Dividenden ( also Aktien in Dt. gelistet) und HY-Depot ( USD).
Dazu habe ich ein SPX500 2x-Depot  seit Jahresanfang.
Zu dem SPX500 2x _Depot schreibe ich später dazu.