Seeking yield?  REITs Near or Below Book Value, Yielding Avg. 13% & Benefitting from Lower Rates 

 The majority of these REITs are agency mortgage REITs, which means that they own bonds guaranteed implicitly or explicitly by the U.S. Federal govt. The names include:

• EFC: Ellington Financial at 0.94x P/B and 11.9% dividend yield

• RITM: Rithm Capital at 0.95x P/B and 8.5% dividend yield (lower size given MSR book)

• DX: Dynex Capital at 1.03x P/B and 12.2% dividend yield

• ARR: Armour Residential at 1.02x P/B and 13.9% dividend yield

• NLY: Annaly Capital at 1.08x P/B and 12.5% dividend yield

• IVR: Invesco Mortgage Capital at 0.94x P/B and 17% dividend yield

• TWO: Two Harbos at 0.93x P/B and 12.8% dividend yield

RWT