Annaly Capital and ARMOUR Residential Continue to Take Advantage of Low Interest Rates
May 31, 2012 08:20 ET
Annaly Capital and ARMOUR Residential Continue to Take Advantage of Low Interest Rates
Five Star Equities Provides Stock Research on Annaly Capital and ARMOUR Residential
NEW YORK, NY--(Marketwire - May 31, 2012) - Despite a rocky U.S. housing market, shares of high-yielding REITs have performed well in 2012, as they continue to take advantage of record low mortgage rates. The Vanguard REIT ETF -- which tracks the performance of an index that measures the performance of publicly traded equity REITs -- is up nearly 10 percent this year, outperforming the Dow Jones Industrial. Five Star Equities examines the outlook for diversified REITs and provides equity research on Annaly Capital Management, Inc. (
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The housing market has continued to show signs of improvement as U.S. home prices in March edged higher for the second month in a row. On a seasonally adjusted basis the S&P Shiller composite index of 20 metropolitan areas gained 0.1 percent in March, just shy of economists' forecasts of 0.2 percent. There were price increases in seven of the twenty cities covered.
"While a broad regional variation remains, the fact that some of the areas hardest hit during the housing downturn, such as Florida, Arizona and California, have seen gains in recent months is a positive sign that the gradual improvement in housing conditions is becoming somewhat broader based," Peter Newland, an economist at Barclays, wrote in a note.
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Annaly Capital Management, Inc., a real estate investment trust, engages in the ownership, management, and financing of a portfolio of investment securities. The company earlier this month reported GAAP net income for the quarter ended March 31, 2012 of $901.8 million or $0.92 per average common share as compared to GAAP net income of $445.6 million or $0.46 per average common share for the quarter ended December 31, 2011.
ARMOUR is a Maryland corporation that invests primarily in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage backed securities. The company rang The Opening Bell® at the New York Stock Exchange on Tuesday, May 22, 2012. ARMOUR has raised over $1 billion in gross equity since its initial listing on the NYSE on April 4, 2011.
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