Earlier this month, armour residential reit arr made an acquisition offer for javelin mortgage investment jmi. Jmi are down over two percent following a citigroup downgrade. Jmi javelin mortgage investment stock price, forecast. Jmi is a smallcap mortgage reit that owns a hybrid portfolio of securities including agency and non. Debt equity ratio quarterly is a widely used stock evaluation measure.
Goldstein, since its trading at a 24% discount to book value, mr. Last week, armour residential reit arr announced that they are looking to make an offer to buy out javelin mortgage jmi. Is invesco mortgage capital a buy at less than half of book value. Some hybrids need to be avoided on book value concerns published on july 5, 20 at 10. Represented the special committee of the board of directors of javelin mortgage investment corp.
Highlevel managers at american capital agency corp. We look to invest across the spectrum of mortgage investments, from agency. Javelin was trading for just 63% of book value prior to the offer, and armour offered to pay 87% which is a 40% premium to current share prices. In a report published on tuesday, oppenheimer analyst terry mcevoy lowered the price target on javelin mortgage investment nyse. Acquisition of javelin mortgage investment corp jmi by armour residential reit inc arr may not be in shareholders best interests march. The latest news on javelin mortgage investments book values and potential future colorado wealth management fund dec. Price book a financial ratio used to compare a companys current market price to its book value. Expect even higher book value erosion in the future.
So here is some news that has me scratching my head. Javelin mortgage investment corp jmi, armour residential. A financial ratio used to compare a companys current market price to its book value. When the mortgage spread gets smaller or negative versus longterm interest rates, our book value will be positively affected. Javelin mortgage investment corp jmi, invesco mortgage capital inc ivr. Javelin mortgage investment corp jmi, invesco mortgage. The selloff in the stock market has spared few sectors, and mortgage real estate investment trusts mreit are no exception.
Javelin mortgage investment will list on the nyse under the symbol jmi. Javelin mortgage investment merger news and arbitrage. Javelin mortgage investment co stocks price quote with latest realtime prices, charts, financials, latest news, technical analysis and opinions. While higher mortgage rates and the resultant higher agency mbs spreads might mean higher spreads for mortgage reits in the longerterm, in the shortterm, the book values of armour and javelin. Javelin mortgage investment 3001 ocean dr vero beach, fl. Jmi and arr announced a buyout where shareholders of jmi will receive about 87% of book value for their shares. Jmi in a merger agreement in which armour residential reit, inc. Management doesnt have a lot to stand on if the reits stock is trading at 80 percent of its book value, he said in reference to what assets would be worth if liquidated. Such rate increases could possibly result in operating losses or. Although hybrid mreits are preferred, javelin mortgage only. Buy these mreits around qe unwinding houston chronicle. Earnings up, book value down at javelin mortgage nyse.
The hagerty classic car valuation tool is designed to help you learn how to value your 1968 american motors javelin and assess the current state of the classic car market. In depth view into javelin mortgage investment pe ratio explanation, calculation, historical data and more. Jmi stock rating and data javelin mortgage investmentrp. When this spread gets larger or positive, our book value will be. Buy these mreits around qe unwinding san antonio express. Mortgage reits federal reserve bond buying program. The latest quarterly results show that jmis book value has dropped by 51% since the. Find the latest debt equity ratio quarterly for na jmi. Bulldog targets reits for shakeup after javelin win. Wolverine asset management delivers letter to board of directors of javelin mortgage investment corp. On march 1, 2016, javelin mortgage investment corp. Marketbeats community ratings are surveys of what our community members think about javelin mortgage investment and other. Javelin mortgage investment 3001 ocean dr vero beach fl 32963. Jmi stock rating and analysis javelin mortgage investmentrp.
The calculation was made on the basis of the cash to be paid if all securities being sought are purchased. Hey hedge fund managers, you should have started a. Arr made an acquisition offer for javelin mortgage investment corp jmi. Citi cut the stock from neutral to sell and lowered the.
View jmis stock price, price target, dividend, earnings, financials, forecast. Deutsche bank, citi, barclays and credit suisse acted as bookrunners on the deal. Agnc, chimera investment corporation cim and invesco mortgage capital inc. Home homepage membership levels membership data coverage complete stock list founders message the book value investing forum podcast free trial. How i predicted javelin mortgage investment would sell to. Earnings up, book value down at javelin mortgage nov. Wolverine asset management delivers letter to board of. On the negative side, the company is expected to report as much as % decline in its book value as it has a large concentration in the lower coupon longer duration agency mbs. Phil goldsteins bulldog targets reits crains new york business. Javelin was trading for just 63% of book value prior to the offer, and armour.
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