Remember Those Beaten Up, High Yield Mortgage REITs?
Dragonfly Capital | Aug 28, 2013 02:51AM ET
The May move lower in the mortgage REIT market, especially for high yielders was a doozy. Some lost over one third of their value. I wrote back then at some point it would be time to buy them back. That although they may not continue to pay 20% dividends that they would likely still pay well above market rates. They just needed to stabilize. Well some of those beaten down beauties are looking pretty stable and perhaps even ready to rise in price. Take a look. American Capital Agency, AGNC Cys Investments, CYS
Digital Realty Trust, DLR
If the Mortgage REITs are still too hot for you, then maybe Digital Realty Trust, $DLR. This one manages technology properties and still pays a 5.7% dividend yield. The chart looks pretty good as well. Moving back over teh 20 day SMA and a bull flag it has a Measured Move to 58.50. The RSI and MACD aare supportive of more upside in this name as well with resistance next at 56.25 and then the 58.50 area.
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Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Original post
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