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Core Insights - The mortgage REITs (mREITs) have significantly outperformed the Business Development Company (BDC) sector this year, driven by falling short-term rates and increased investor caution due to bankruptcies among some borrowers [1][4]. Performance Comparison - The VanEck Mortgage REIT Income ETF (MORT) has consistently outperformed the VanEck BDC Income ETF (BIZD) and Putnam BDC Income ETF (PBDC) over the past 12 months, with substantial outperformance noted [4]. - The top holdings in MORT include Annaly Capital Management Inc. (15.08% of total holdings) and Agni Investment Corp. (14.51% of total holdings), indicating a strong focus on agency mortgage-backed securities [4][5]. Interest Rate Sensitivity - Agency mortgage REITs are particularly sensitive to interest rate changes, but there is a common misconception that they only benefit from lower rates. In reality, a significant decline in mortgage rates can lead to increased prepayments, negatively impacting mREITs [5][6]. - The ideal scenario for mortgage REITs is stable mortgage rates with a gradual decline in the Fed Funds Rate, allowing them to manage their portfolios effectively [12][11]. Valuation Insights - The price-to-book value for major mortgage REITs is estimated at approximately 1.08x to 1.23x, with projected increases in book values of about 4% to 5% from mid-2025 to the present [13]. - Some mortgage REITs may report declines in book value per share for Q3 2025, indicating potential volatility in valuations across the sector [13]. Investment Opportunities - There are opportunities within the mortgage REIT sector, with some shares becoming relatively cheap, although the focus has been more on BDCs recently due to their price declines [14]. - The company is also exploring investments in preferred shares and baby bonds, which offer attractive yields with more stable prices compared to common shares [15].

Join iREIT on Alpha today to get the most in-depth research that includes REITs, mREITs, preferreds, BDCs, MLPs, ETFs, and other income alternatives. 438 testimonials, and most are 5 stars. Nothing to lose with our FREE 2-week trial .Don't worry, this article isn't about AI. As important as this topic may be, it's time for a little detour. However, it's still based on something I wrote in most AI-focused articles, as I noted that the market is likelyAnalyst’s Disclosure:I/we have a beneficial long position ...

Group 1 - The article discusses various investment opportunities and strategies, emphasizing the importance of in-depth research in sectors such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - It highlights the author's use of impactful language in titles to attract attention to significant market shifts and investment opportunities [1] - The article mentions a beneficial long position in shares of specific companies, indicating a personal investment interest that may influence the analysis presented [1] Group 2 - The disclosure emphasizes that past performance does not guarantee future results, indicating a cautious approach to investment recommendations [2] - It clarifies that no specific investment advice is being provided, and opinions expressed may not represent the views of the entire platform [2] - The article notes that the analysts contributing to the platform may not be licensed or certified, which could affect the credibility of the investment insights shared [2]

Group 1 - The focus is on businesses with strong cash generation, ideally with a wide moat and significant durability, which can be highly rewarding when bought at the right time [1] - The Cash Flow Club emphasizes access to the leader's personal income portfolio targeting yields of 6% or more, along with community chat and a "Best Opportunities" List [1] - Coverage includes sectors such as energy midstream, commercial mREITs, BDCs, and shipping, highlighting the importance of transparency on performance [1] Group 2 - Jonathan Weber has been active in the stock market and as a freelance analyst for many years, focusing primarily on value and income stocks while occasionally covering growth [2]

Group 1 - The article emphasizes the significant focus on artificial intelligence in discussions throughout the year [1] - It highlights the importance of in-depth research on various investment vehicles including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] Group 2 - The content does not provide specific financial data or performance metrics related to companies or industries [2]

Group 1 - The article promotes iREIT on Alpha as a source for in-depth research on various income alternatives including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - It highlights the positive feedback from users, with 438 testimonials, most rated 5 stars, indicating high satisfaction with the service [1] Group 2 - The article includes a disclosure from the analyst stating a beneficial long position in several companies, which may influence the analysis presented [2] - It clarifies that the opinions expressed are those of the author and not influenced by compensation from any mentioned companies [2] Group 3 - Seeking Alpha emphasizes that past performance does not guarantee future results, indicating a cautionary stance on investment outcomes [3] - The platform notes that it does not provide personalized investment advice and that views expressed may not represent the entire organization [3]

Core Insights - Las Vegas is currently experiencing one of the worst periods for visitor numbers in the past 22 years, indicating a significant contraction in tourism [1]. Group 1 - The article highlights a chart that illustrates the decline in Las Vegas visitors, emphasizing the severity of the current downturn [1].

Group 1 - The article discusses the inadequacy of Social Security for a decent retirement and suggests alternative retirement plans [1] - It highlights the importance of exploring various income alternatives such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs for retirement planning [1] Group 2 - The article emphasizes the need for in-depth research on investment options to secure financial stability in retirement [1]

Group 1 - The article emphasizes the importance of understanding inflation and its potential impact on the economy and investment portfolios, particularly in a "higher for longer" interest rate environment [1] - The content suggests that there is a significant interest in various income alternatives, including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, indicating a diverse investment landscape [1] Group 2 - The article does not provide specific financial data or performance metrics related to any companies or sectors [2][3]