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REITs fall on HW 30 amid looming taper talks


Mortgage real estate investment trusts experienced a slight drop on the HW 30 amid fed officials discussing future plans on tapering.

Governor Jerome Powell noted that the timing is necessarily uncertain because it depends on the strength of the recovery. Meanwhile, Boston Fed President Eric Rosengren explained that the central bank's balance sheet is a reason to be patient.

"What it's reasonable to expect us to do is to be transparent and to move gradually when it is time to withdraw accommodation, or even to begin reducing the pace at which we add accommodation and go slowly in doing that," Powell said.

While the exact timing of fed tapering has not been set, the questionable future of the government’s backing on mortgage bonds could potentially have been enough to cause mREIT stocks to slightly dip, according to various sources.

Annaly Capital Management (NLY) took the biggest dent, falling 1.13% on Tuesday, and down almost 28% year-to-date.

In addition, Two Harbors Investment (TWO) was not far behind and decreased 1.09%, and is down nearly 21% year-to-date.

Both Redwood Trust (RWT) and American Capital Agency Corp. (AGNC) skimmed by with the smallest drops, declining .06% and .39%, respectively, on Tuesday.  

American Capital Agency is down roughly 33% year-to-date.

However, Redwood Trust is the only mREIT that is up over the long haul and has climbed 12.31% year-to-date. 

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