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Anworth Mortgage Asset Corp. (ANH) filed Quarterly Report for the period ended 2011-09-30.
Anworth Mortgage Asset Corp. has a market cap of $825.8 million; its shares were traded at around $6.25 with a P/E ratio of 7.1 and P/S ratio of 3.8. The dividend yield of Anworth Mortgage Asset Corp. stocks is 14.7%.
This is the annual revenues and earnings per share of ANH over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ANH.
Highlight of Business Operations:
We are organized for tax purposes as a real estate investment trust, or REIT. Accordingly, we generally distribute substantially all of our taxable earnings to stockholders without paying federal or state income tax at the corporate level on the distributed earnings. At September 30, 2011, our qualified REIT assets (real estate assets, as defined under the Code, cash and cash items and government securities) were greater than 99% of our total assets, as compared to the Code requirement that at least 75% of our total assets must be qualified REIT assets. Greater than 99% of our 2010 revenue qualified for both the 75%During the three months ended September 30, 2011 and 2010, there was no gain or loss recognized in earnings due to hedge ineffectiveness. We have determined that our hedges are still considered “highly effective.” There were no components of the derivative instruments’ gain or loss excluded from the assessment of hedge effectiveness.
During the nine months ended September 30, 2011 and 2010, there was no gain or loss recognized in earnings due to hedge ineffectiveness. We have determined that our hedges are still considered “highly effective.” There were no components of the derivative instruments’ gain or loss excluded from the assessment of hedge effectiveness.
During the three months ended September 30, 2011, we issued 129,400 shares of common stock under our amended 2008 Sales Agreement with Cantor (as described in Note 9 to the accompanying unaudited consolidated financial statements) at a price of $7.65 per share, which provided net proceeds to us of approximately $970 thousand, net of sales commissions and less reimbursement of fees. Cantor, as the sales agent, received an aggregate commission of approximately $19.8 thousand, which represents an average commission of approximately 2.0% on the gross sales price per share. This transaction used the remaining number of common shares available under the amended 2008 Sales Agreement, at which point it expired. All future sales of our common stock, Series A Preferred Stock and Series B Preferred Stock will be issued under the 2011 Sales Agreement. During the three months ended September 30, 2011, we issued an aggregate of 590,600 shares of common stock under our 2011 Sales Agreement with Cantor (as described in Note 9 to the accompanying unaudited consolidated financial statements) at a weighted average price of $7.61 per share, which provided net proceeds to us of approximately $4.4 million, net of sales commissions and less reimbursement of fees. Cantor, as the sales agent, received an aggregate commission of approximately $89.9 thousand, which represents an average commission of approximately 2.0% on the gross sales price per share. During the three months ended September 30, 2011, we issued 40,000 shares of Series B Preferred Stock at a price of $26.23 per share under our 2011 Sales Agreement, which provided net proceeds to us of approximately $1.04 million, net of sales commissions and less reimbursement of fees. Cantor, as the sales agent, received an aggregate commission of approximately $10.5 thousand, which represents an average commission of approximately 1.0% on the gross sales price per share. During the three months ended September 30, 2011, we did not issue any shares of Series A Preferred Stock under the 2011 Sales Agreement. At September 30, 2011, there were 19,409,400 shares of common stock, 1,000,000 shares of Series A Preferred Stock and 960,000 shares of Series B Preferred Stock, respectively, available for future issuance under the 2011 Sales Agreement.
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