Last $5.31 USD
Change Today -0.05 / -0.93%
Volume 539.7K
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As of 5:15 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

1299 Ocean Avenue

Second Floor

Santa Monica, CA 90401

United States

Phone: 310-255-4493

Fax: 310-434-0070

Anworth Mortgage Asset Corporation operates as a real estate investment trust (REIT). The company is engaged in the business of investing primarily in United States (U.S.) agency mortgage-backed securities (MBS) (Agency MBS), which are securities representing obligations guaranteed by the U.S. government, such as Ginnie Mae, or guaranteed by federally sponsored enterprises, such as Fannie Mae or Freddie Mac. The company’s investment portfolio consists primarily of Agency MBS and also includes a small amount of Non-Agency MBS, which are included with the Agency MBS. Investments MBS Pass-Through Certificates: The company principally invests in pass-through certificates, which are securities representing interests in pools of mortgage loans secured by residential real property in which payments of both interest and principal on the securities are made monthly. Collateralized Mortgage Obligations (CMOs): CMOs are MBS. Interest and principal on CMOs are paid, in various cases, on a monthly basis. The company would consider investments in CMOs that are issued or guaranteed by the federal government, or by any of its agencies or instrumentalities, to be the U.S. government securities. Other Types of MBS Mortgage Derivative Securities: The company might acquire mortgage derivative securities in an amount not to exceed 10% of its total assets. Mortgage derivative securities provide for the holder to receive interest-only, principal-only or interest and principal in amounts that are disproportionate to those payable on the underlying mortgage loans. The company might invest in inverse floaters, a class of CMOs with a coupon rate that resets in the opposite direction from the market rate of interest to which it is indexed, including the London Interbank Offered Rate or the 11th District Cost of Funds Index. The company might invest in other mortgage derivative securities that might be developed in the future. Mortgage Warehouse Participations: The company might acquire mortgage warehouse participations as an additional means of diversifying its sources of income. It anticipates that these investments, together with its investments in other Category III assets, would not, in the aggregate, exceed 10% of its total mortgage-related assets. These investments are participations in lines of credit to mortgage loan originators secured by originated mortgage loans that are in the process of being sold to investors. The company’s investments in mortgage warehouse participations are limited. Other Mortgage-Related Assets The company might acquire other investments that include equity and debt securities issued by other primarily mortgage-related finance companies, interests in mortgage-related collateralized bond obligations, other subordinated interests in pools of mortgage-related assets, commercial mortgage loans and securities and residential mortgage loans other than high-credit quality mortgage loans. Strategy The company’s strategy is to invest primarily in Agency MBS. Tax Status The company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. As a result, the company generally is not subject to Federal or State income taxation at the corporate level to the extent it distributes annually approximately 90% of its REIT taxable income to its shareholders and satisfies certain other requirements. History Anworth Mortgage Asset Corporation was founded in 1997. The company was incorporated in Maryland in 1997. It commenced its operations in 1998.

 

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Valuation ANH Industry Range
Price/Earnings 14.9x
Price/Sales 9.0x
Price/Book 0.8x
Price/Cash Flow 11.1x
TEV/Sales NM Not Meaningful
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