One Apollo-managed mREIT is buying another.
News & Analysis: Apollo Residential Mortgage
Apollo Residential Mortgage has adjusted its risk profile and deserves to trade at a much lower discount to book value.
The company slices its quarterly payout by 43%.
mREIT cut its common dividend 18% last year, though it paid a special dividend in January.
The mortgage REIT's new common stock payout matches that of the previous disbursement.
Agency mortgage REITs have been steadily reducing payouts.
Market-trouncing returns could be written in this 5-Star.