Ares Commercial management to meet virtually with BTIG » 04:5506/1706/17/21
Virtual Meeting to be…
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Invitation Homes initiated with an Outperform at Wolfe Research » 16:4906/1406/14/21
Wolfe Research analyst…
Wolfe Research analyst Andrew Rosivach initiated coverage of Invitation Homes with an Outperform rating and $46 price target. The company's premium valuation can widen given given the "tremendous internal growth" it can produce on a multiyear basis.
AGNC Investment files automatic mixed securities shelf 12:2206/1106/11/21
AGNC book value decline could pressure shares, says Piper Sandler » 08:5806/1106/11/21
Piper Sandler analyst…
Piper Sandler analyst Kevin Barker attributes the "sharp decline" in AGNC Investment's May book value to its hedge positioning given that the long-end of the yield curve has come under slight pressure in recent weeks. He points out that AGNC consistently produced growth in tangible book value since Q1 of 2020 and was one of the few mortgage real estate investment trusts to fully recover the book value lost during the Q1 of 2021 market disruption. Therefore, the "sudden change in trajectory" could pressure the stock in the near-term given as AGNC now trades to a slight premium to peers, Barker tells investors in a research note. However, the 12c per month dividend remains well covered given the current earnings trajectory and the 8% dividend yield will remain intact, adds the analyst. Barker keeps an Overweight rating on AGNC Investment with an $18.50 price target.
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AGNC Investment reports estimated tangible net book value of $16.82 per share » 16:0406/1006/10/21
The company announced its…
The company announced its estimated tangible net book value of $16.82 per common share as of May 31. The estimate of tangible net book value includes a deduction for the company's May dividend of 12c per common share, which was declared on May 13 with a May 28 record date.
Ares Commercial management to meet virtually with BTIG » 14:1306/0806/08/21
Virtual Meeting to be…
Virtual Meeting to be held on June 17 hosted by BTIG.
AGNC Investment Corp. put volume heavy and directionally bearish » 13:5506/0706/07/21
Bearish flow noted in…
Bearish flow noted in AGNC Investment Corp. with 5,117 puts trading, or 1.2x expected. Most active are Jun-21 18.5 puts and Jun-21 18 puts, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 2.50, while ATM IV is up nearly 3 points on the day. Earnings are expected on July 26th.
Invitation Homes raises 2021 AFFO view $1.18-$1.26 from $1.13-$1.21 » 06:5006/0706/07/21
Consensus 33c. Sees same…
Consensus 33c. Sees same store core revenue growth 4.5%-5.5%, consensus $1.93B.
Invitation Homes reports May same store new lease rate growth of 14.1% » 06:4806/0706/07/21
Invitation Homes announced that members of the Company's management team will participate in a roundtable discussion during Nareit's REITweek: 2021 Virtual Investor Conference on Wednesday, June 9, 2021 at 3:15 p.m. Eastern Time. In conjunction with the conference, the Company has posted an updated investor presentation to its investor relations website at www.invh.com. The presentation includes the following operational results for the month of May 2021: Same Store new lease rate growth of 14.1%, up from 10.8% in April and 7.9% in Q1 2021. Same Store renewal rate growth of 5.9%, up from 5.5% in April and 4.4% in Q1 2021. Same Store average occupancy of 98.3%.
AGNC Investment downgraded to Market Perform from Outperform at Keefe Bruyette » 18:0406/0606/06/21
Keefe Bruyette analyst…
Keefe Bruyette analyst Bose George downgraded AGNC Investment to Market Perform from Outperform with an unchanged price target of $18.25. With agency mortgage back security spreads near historic tights, there's likely to be limited upside to agency MBS prices and agency mortgage real estate investment trust book values, George tells investors in a research note. Given the possibility of spreads widening and with the sector trading at or above book value, George believes the risk/reward profile in agency mortgage real estate investment trusts "has moved from positive to fairly neutral." As such, he downgraded both Annaly Capital and AGNC to to Market Perform on valuation.