This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CYS Investments, Inc. Announces Second Quarter 2012 Financial Results

(2) The Company's average repurchase agreements for the period were calculated by averaging the month end repurchase agreements balance during the period.

(3) The Company's average net assets for the period were calculated by averaging the month end net assets during the period.

(4) Our average common shares outstanding was calculated by averaging the daily common shares outstanding during the period.

(5) The Company's average yield on Agency RMBS for the period was calculated by dividing interest income from Agency RMBS by average Agency RMBS.

(6) The Company's average cost of funds and hedge for the period was calculated by dividing total interest expense, including net swap and cap interest income (expense), by average repurchase agreements.

(7) The Company's interest rate spread net of hedge for the period was calculated by subtracting average cost of funds and hedge from average yield on Agency RMBS.

(8) The Company's operating expense ratio is calculated by dividing operating expenses by average net assets.

(9) The Company's leverage ratio was calculated by dividing (i) the Company's repurchase agreements balance plus payable for securities purchased minus receivable for securities sold by (ii) net assets.

* All percentages are annualized.

Prepayments

The portfolio recorded $651.7 million in scheduled and unscheduled principal repayments and prepayments, which equated to a constant prepayment rate (“CPR”) of approximately 18.1% and net amortization of premium of $22.7 million for the second quarter of 2012. This compared to $543.2 million in scheduled and unscheduled principal repayments and prepayments, which equated to a CPR of approximately 17.2% and net amortization of premium of $16.9 million for the first quarter of 2012. The increase in prepayments and repayments occurred due to a further decrease in mortgage interest rates during the second quarter of 2012.

Dividend

The Company declared a common dividend of $0.50 per share with respect to the second quarter of 2012, the same as for the first quarter of 2012. Using the closing share price of $13.77 on June 29, 2012, the second quarter dividend equates to an annualized dividend yield of 14.5%.

4 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,073.64 -6.50 -0.04%
S&P 500 2,114.74 -2.95 -0.14%
NASDAQ 5,071.74 -20.3450 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs