From the category archives:


Dynex Looks Like a Mortgage REIT That’s Built to Last

August 10, 2009

Dynex Capital Inc. is a rather small US-based Mortgage REIT that invests in securitized residential and commercial mortgage loans and non-agency MBS. Management has a significant stake in the common stock, so it shouldn’t be surprising that the company made almost no new investments in 2006 and 2007. As of June 30, 2009, Dynex Capital […]

Read the full article →

9 REITs That Had to be Destroyed in Order to be Saved

June 20, 2009

In 1968 at the height, so to speak, of the Vietnam War, U.S. Air Force Major Chet Brown was fresh out of ideas and common sense. Tired, frustrated and on the wrong end of a microphone after a battle for the provincial capital of Ben Tre, he famously allowed that it had become necessary to […]

Read the full article →

REITs Queuing Up To TALF Trough By the Dozen; Debt is the New Equity

June 18, 2009

REITs cracked the capital markets code this quarter. What looked like one of the biggest incipient financial train wrecks since the Great Depression has turned into a scramble for REIT scrip of almost any stripe. The MSCI US REIT index is up 55% from it’s March lows, and $15 billion in credit lines have been […]

Read the full article →