Real estate investment trust (REIT) MTGE Investment Corp. (MTGE, Financial) has increased its quarterly dividend to 45 cents from 40 cents. The REIT is currently selling at $16.75 with a forward dividend yield of 10.75% and an ex-dividend date of March 29.
The portfolio invests in a range of real estate investments, including residential mortgage-backed securities, real estate equity and real estate debt. In 2017, the REIT has returned 6.7%. It has a one-year return of 16% and a three-year return of -17%.
In its most recent earnings report on Feb. 8, the company announced earnings results for the fourth quarter of 2016. Revenue was $29.3 million for the fourth quarter, beating estimates by $1.68 million and reporting an increase from the previous quarter’s revenue of $25.5 million. Revenue for the year was $108.2 million.
Earnings per share for the fourth quarter were 50 cents, beating estimates by five cents and increasing from 48 cents in the previous quarter. Earnings per share for the year were $1.88.
Institutional shareholders currently own 63.03% of MTGE’s outstanding shares. The REIT’s top institutional shareholders are Vanguard Group (7.73%) and BlackRock Fund Advisors (5.57%).
Disclosure: I do not own any shares of MTGE.
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