Anworth Mortgage Asset Corporation Sells a Preferred Offering
By: Tim McPartland,
Anworth Mortgage Asset Corporation, a mortgage REIT, has sold a new preferred stock offering.
The coupon on the issue is 7.625% and since it is a REIT it is a non qualified dividend issue. The issue is unrated.
The issue will begin to trade on the OTC grey market starting tomorrow (Thursday) under the temporary ticker symbol ANWGP.
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Details of the offering are here.
IMPORTANT NOTE–issue priced at $24.50 instead of $25 so the effective yield at the issuing price is 7.78%.
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
