No. of Recommendations: 0
Thanks for the info.

In the continual quest for reliable and growing dividends going forward, TMA is looking good. S&P & Thompson's First Call seem to closely reflect Goldstone's assessment. NAREIT's historical distributions show the dividend's to be 'clean' (no return of capital, which is usually a bad sign for a MREIT). Dividend history saw the dividend get whacked in 1997, but has shown only upward movement since then. So like all MREITs, the dividend risk of growing non-performing mortgages (defauits) and short rates rising faster than expectations, are certainly there, but these issues seem well addressed by Goldstone's summary.

So although TMA may show a flat dividend for the next few quarters, at a 10.5% dividend, this seems like a good bet for the income oriented investor.

Having said that, the issue now is buy-in price. Scanning the past few months, it would seem the best buy-in would have been early Oct, as the price has been steadily climbing since. Any crystal balls showing the prices over the next couple of months?

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