MTGE's meteoric rise – from trading at a NAV discount to trading both above its last-published NAV but also above the intended offering price filed with the SEC on February 23 (but thankfully subject to amendment) – has been stunning. The stock, which took a couple quarters of demonstrated performance to claw its way back to the IPO price of $20, just passed $24. It's been barely over half a year.
At the recently-announced dividend of 90¢ per quarter, the current price presents an annual dividend yield of about 15%, but 18% of the IPO price. Since the investment underlying each share has been growing quarterly, ACAS' ability to get MTGE to produce future income seems solid.
No comments:
Post a Comment
Good-natured and spirited debate welcome. Ranting flameouts might consider posting elsewhere. Relevant posts containing links to your own's blog's comments on the subject are always welcome; incoherent mumblings accompanied by spam posts for commercial products are just not cool. Use good sense.