mREIT Armour Residential REIT (NYSE:ARR) has released an new investor presentation today. ARR releases a monthly update in this format.
We post this since ARR has 2 monthly paying perpetual preferreds outstanding with current yields in the 8% area.
The new presentation can be see here.
Since we are on the hunt for further we are taking a little more interest in the mREIT preferreds.
Tim,
Looking at your list of mREIT’s I don’t see CHMI-A on it.
Thanks retired–just found your note–will get it on.
Note some call risk on A; B callable but presumably protected by higher yielding A.
I’ve owned the two preferred shares ARR-A and ARR-B for a several years and considered them a corner stone of my portfolio. Steady monthly income with very little variation in share price over the past 12 months. On a hunch I sold my entire position in early December and shortly afterwords the shares took a wicked dive. Now they’re trading back above par again, but I took a closer look at their business and I’m not really interested in rebuilding my position.
I remember a few years back this was one of the worst quality mREIT, I don’t know if something changed later on.