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bar1080

02/06/13 7:06 PM

#1077 RE: tfgg1 #1076

Right: "mREIT landscape is riddled with failed entities that could not operate a levered balance sheet during changing interest rate and credit environments."
http://seekingalpha.com/article/278094-investors-should-be-leery-of-recent-mortgage-reit-entrants

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"... REIT investors should remember that many once profitable mortgage REITs did not make it through the cycle or had their dividend eliminated (see list below).

Thornburg Mortgage
New Century Financial
Apex Mortgage
Fieldstone Investment
Sunset Financial
Capital Trust
Ashford Hospitality Trust
ECC Capital
Gramercy Capital Corp
Novastar"

ARR needs to be viewed in the broad mREIT context.

http://seekingalpha.com/article/278519-mortgage-reit-graveyard-lessons-from-the-past