Loading...

Anworth Mortgage Asset

DB:AOG
Snowflake Description

High growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AOG
DB
$380M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Anworth Mortgage Asset Corporation operates as a real estate investment trust (REIT) in the United States. The last earnings update was 69 days ago. More info.


Add to Portfolio Compare Print
AOG Share Price and Events
7 Day Returns
1.8%
DB:AOG
0.8%
Global Mortgage REITs
-1.8%
DE Market
1 Year Returns
-19.2%
DB:AOG
-6.1%
Global Mortgage REITs
-6.7%
DE Market
AOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anworth Mortgage Asset (AOG) 1.8% -0.9% -4.4% -19.2% -19.1% -10.6%
Global Mortgage REITs 0.8% 1.1% -2.5% -6.1% 1.6% -11.2%
DE Market -1.8% 1.6% -1.6% -6.7% 10.1% 11%
1 Year Return vs Industry and Market
  • AOG underperformed the Mortgage REITs industry which returned -6.1% over the past year.
  • AOG underperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
AOG
Industry
5yr Volatility vs Market

AOG Value

 Is Anworth Mortgage Asset undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Anworth Mortgage Asset to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Anworth Mortgage Asset.

DB:AOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $5.99 * 5.9%
$0.36
Book Value of Equity per Share Median Book Value from the past 5 years. $5.99
Discount Rate (Cost of Equity) See below 12.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Mortgage REITs Unlevered Beta Simply Wall St/ S&P Global 0.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.267 (1 + (1- 21%) (1182.09%))
2.177
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

Discounted Cash Flow Calculation for DB:AOG using Excess Returns Model Model

The calculations below outline how an intrinsic value for Anworth Mortgage Asset is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:AOG Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.9% – 12.15%) * $5.99)
$-0.37
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.37 / (12.15% - 0.23%)
$-3.12
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $5.99 + $-3.12
$2.87
DB:AOG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AOG represents 0.87855x of NYSE:ANH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87855x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 2.87 x 0.87855
€2.52
Value per share (EUR) From above. €2.52
Current discount Discount to share price of €3.40
= -1 x (€3.40 - €2.52) / €2.52
-34.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Anworth Mortgage Asset is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Anworth Mortgage Asset's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anworth Mortgage Asset's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.33
NYSE:ANH Share Price ** NYSE (2019-07-15) in USD $3.87
Global Mortgage REITs Industry PE Ratio Median Figure of 23 Publicly-Listed Mortgage REITs Companies 12.75x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 20.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Anworth Mortgage Asset.

DB:AOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ANH Share Price ÷ EPS (both in USD)

= 3.87 ÷ -0.33

-11.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anworth Mortgage Asset is loss making, we can't compare its value to the Global Mortgage REITs industry average.
  • Anworth Mortgage Asset is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Anworth Mortgage Asset's expected growth come at a high price?
Raw Data
DB:AOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -11.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
120.4%per year
Global Mortgage REITs Industry PEG Ratio Median Figure of 21 Publicly-Listed Mortgage REITs Companies 1.19x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Anworth Mortgage Asset, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Anworth Mortgage Asset's assets?
Raw Data
DB:AOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $4.79
NYSE:ANH Share Price * NYSE (2019-07-15) in USD $3.87
Global Mortgage REITs Industry PB Ratio Median Figure of 37 Publicly-Listed Mortgage REITs Companies 0.95x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.74x
DB:AOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ANH Share Price ÷ Book Value per Share (both in USD)

= 3.87 ÷ 4.79

0.81x

* Primary Listing of Anworth Mortgage Asset.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anworth Mortgage Asset is good value based on assets compared to the Global Mortgage REITs industry average.
X
Value checks
We assess Anworth Mortgage Asset's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage REITs industry average (and greater than 0)? (1 check)
  5. Anworth Mortgage Asset has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AOG Future Performance

 How is Anworth Mortgage Asset expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
120.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anworth Mortgage Asset expected to grow at an attractive rate?
  • Anworth Mortgage Asset's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Anworth Mortgage Asset's earnings growth is expected to exceed the Germany market average.
  • Anworth Mortgage Asset's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AOG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 120.4%
DB:AOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 47.8%
Global Mortgage REITs Industry Earnings Growth Rate Market Cap Weighted Average 36.7%
Global Mortgage REITs Industry Revenue Growth Rate Market Cap Weighted Average 26.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AOG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 70 1
2020-12-31 81 79 2
2019-12-31 67 42 1
DB:AOG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 -10 74 -33
2018-12-31 7 66 -16
2018-09-30 59 144 36
2018-06-30 54 103 32
2018-03-31 49 95 27
2017-12-31 68 86 46
2017-09-30 67 127 46
2017-06-30 83 68 63
2017-03-31 72 59 51
2016-12-31 37 79 16
2016-09-30 54 27 33
2016-06-30 4 105 -17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anworth Mortgage Asset's earnings are expected to grow significantly at over 20% yearly.
  • Anworth Mortgage Asset's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Anworth Mortgage Asset Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AOG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.48 0.48 0.48 1.00
2020-12-31 0.59 0.71 0.48 2.00
2019-12-31 0.11 0.11 0.11 1.00
DB:AOG Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.33
2018-12-31 -0.16
2018-09-30 0.37
2018-06-30 0.33
2018-03-31 0.28
2017-12-31 0.48
2017-09-30 0.48
2017-06-30 0.65
2017-03-31 0.54
2016-12-31 0.17
2016-09-30 0.34
2016-06-30 -0.17

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Anworth Mortgage Asset will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Anworth Mortgage Asset's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Anworth Mortgage Asset has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AOG Past Performance

  How has Anworth Mortgage Asset performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Anworth Mortgage Asset's growth in the last year to its industry (Mortgage REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Anworth Mortgage Asset does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Anworth Mortgage Asset's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Anworth Mortgage Asset's 1-year growth to the Global Mortgage REITs industry average as it is not currently profitable.
Earnings and Revenue History
Anworth Mortgage Asset's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Anworth Mortgage Asset Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AOG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 -10.34 -32.79 11.82
2018-12-31 6.96 -15.68 11.98
2018-09-30 58.89 36.48 12.82
2018-06-30 54.39 31.97 13.02
2018-03-31 49.35 27.40 11.81
2017-12-31 67.68 46.20 11.93
2017-09-30 67.37 46.43 12.29
2017-06-30 83.05 62.52 12.61
2017-03-31 72.06 51.45 13.35
2016-12-31 36.71 15.91 12.88
2016-09-30 53.75 33.06 13.83
2016-06-30 3.74 -17.02 13.95
2016-03-31 24.73 4.22 13.73
2015-12-31 28.68 8.27 13.75
2015-09-30 -18.21 -38.76 14.11
2015-06-30 23.13 2.74 14.15
2015-03-31 16.33 -6.89 17.23
2014-12-31 46.37 22.90 17.66
2014-09-30 71.80 48.28 17.76
2014-06-30 70.69 46.80 19.61
2014-03-31 81.26 59.75 16.45
2013-12-31 91.45 69.98 15.73
2013-09-30 103.79 82.23 15.16
2013-06-30 107.59 86.18 12.92
2013-03-31 110.22 88.96 12.77
2012-12-31 115.64 94.45 15.42
2012-09-30 120.15 99.47 11.95

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Anworth Mortgage Asset has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Anworth Mortgage Asset has efficiently used its assets last year compared to the Global Mortgage REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Anworth Mortgage Asset improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Anworth Mortgage Asset's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Anworth Mortgage Asset has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AOG Health

 How is Anworth Mortgage Asset's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Anworth Mortgage Asset's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anworth Mortgage Asset's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Anworth Mortgage Asset's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Anworth Mortgage Asset's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Anworth Mortgage Asset Company Filings, last reported 3 months ago.

DB:AOG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 589.15 4,487.75 49.39
2018-12-31 583.40 4,416.22 69.37
2018-09-30 623.67 4,605.88 87.93
2018-06-30 643.59 4,632.17 82.23
2018-03-31 658.66 4,892.68 74.48
2017-12-31 699.69 5,034.39 40.07
2017-09-30 702.28 5,041.75 20.13
2017-06-30 694.38 4,649.33 23.91
2017-03-31 673.81 4,535.90 65.12
2016-12-31 656.68 4,711.38 39.22
2016-09-30 685.23 4,806.17 19.12
2016-06-30 667.44 5,002.69 26.61
2016-03-31 667.10 5,314.52 19.52
2015-12-31 703.79 5,902.94 43.22
2015-09-30 720.35 6,571.32 7.03
2015-06-30 752.79 6,556.08 18.24
2015-03-31 768.88 6,391.61 10.24
2014-12-31 782.87 6,453.38 24.78
2014-09-30 825.75 7,258.67 663.50
2014-06-30 849.59 7,656.35 433.83
2014-03-31 889.33 7,606.32 19.53
2013-12-31 903.62 7,673.29 29.92
2013-09-30 909.11 7,693.73 26.01
2013-06-30 930.50 8,503.31 25.99
2013-03-31 1,091.24 8,146.15 1.64
2012-12-31 1,089.14 8,153.52 3.02
2012-09-30 1,130.53 8,106.08 0.99
  • Anworth Mortgage Asset's level of debt (761.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (855.8% vs 761.7% today).
  • Debt is not well covered by operating cash flow (1.6%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Anworth Mortgage Asset's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Anworth Mortgage Asset's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Anworth Mortgage Asset has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AOG Dividends

 What is Anworth Mortgage Asset's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
11.37%
Current annual income from Anworth Mortgage Asset dividends. Estimated to be 12.75% next year.
If you bought €2,000 of Anworth Mortgage Asset shares you are expected to receive €227 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Anworth Mortgage Asset's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • Anworth Mortgage Asset's dividend is above the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Global Mortgage REITs Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 10.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AOG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.48 1.00
2020-12-31 0.48 1.00
2019-12-31 0.52 1.00
DB:AOG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-13 0.440 11.617
2019-03-14 0.520 12.750
2018-12-14 0.520 12.038
2018-09-14 0.560 12.505
2018-06-15 0.560 11.285
2018-03-15 0.600 12.335
2017-12-15 0.600 11.914
2017-09-15 0.600 10.377
2017-06-15 0.600 9.873
2017-03-15 0.600 10.398
2016-12-16 0.600 11.318
2016-09-15 0.600 11.976
2016-06-16 0.600 12.430
2016-03-17 0.600 12.803
2015-12-17 0.600 13.551
2015-09-17 0.600 12.478
2015-06-18 0.600 11.778
2015-03-19 0.600 11.571
2015-02-26 0.560 10.739
2015-02-11 0.560 10.837
2013-12-13 0.320 6.297
2013-09-30 0.480 10.547
2013-06-28 0.600 12.530
2013-03-28 0.600 10.117
2013-01-25 0.600 9.709
2012-09-28 0.600 10.006
2012-06-29 0.720 10.672
2012-03-30 0.840 12.556
2012-02-27 0.940 14.296
2012-02-09 0.940 14.346
2011-12-15 0.840 13.114
2011-10-03 0.920 14.404
2011-06-30 1.000 14.167
2011-03-31 1.000 13.899
2011-02-25 0.970 13.731
2011-02-17 0.970 13.773
2010-12-17 0.880 12.622
2010-09-30 0.920 13.058
2010-06-30 1.000 14.189
2010-04-15 1.080 15.876
2010-02-26 1.180 17.291
2010-02-18 1.180 17.480
2009-12-17 1.120 16.034
2009-10-12 1.120 15.430
2009-07-10 1.280 16.770
2009-04-13 1.200 17.836
2009-03-12 1.000 16.447
2009-02-19 1.000 17.273
2008-12-22 1.040 16.620
2008-10-16 1.000 17.587

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Anworth Mortgage Asset's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Anworth Mortgage Asset's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Anworth Mortgage Asset afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anworth Mortgage Asset has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AOG Management

 What is the CEO of Anworth Mortgage Asset's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe McAdams
COMPENSATION $189,644
AGE 50
TENURE AS CEO 0.8 years
CEO Bio

Mr. Joseph E. McAdams, also known as Joe, CFA, serves as Chairman of the Board at Anworth Mortgage Asset Corporation since November 15, 2018. He has been the President of Anworth Management, LLC, Manager of Anworth Mortgage Asset Corporation since July 15, 2016. Mr. McAdams serves as Chief Investment Officer of Anworth Mortgage Asset Corporation since January 2003 and served as its Executive Vice President from June 2002 to July 15, 2016. He has been the Chief Executive Officer of Anworth Mortgage Asset Corporation since September 30, 2018. He serves as Managing Director and Portfolio Manager at Pacific Income Advisers, Inc. and was previously a Senior Vice President. He joined the firm in 1998 and specializes in mortgage-backed securities, where he is a part of the investment grade bond management team responsible for mortgage and asset-backed security research and managing fixed income trading and the bond strategy group. Previously, Mr. McAdams was a Manager at BT Management since November 2003. Prior to that, from 1993 to 1998, he was employed at Donaldson, Lufkin & Jenrette Securities Corp. as a Mortgage-Backed Security Trader and Research Analyst. Mr. McAdams has extensive investment experience. He has been a Director of Anworth Mortgage Asset Corporation since June 2002. Mr. McAdams is also an Executive Vice President and the Chief Investment Officer of PIA Farmland. He is a Chartered Financial Analyst charter holder. Mr. McAdams holds a Master's Degree in Economics from the University of Chicago and a Bachelor's degree, Magna Cum Laude, with dual concentrations in Finance and Real Estate from The Wharton School of the University of Pennsylvania.

CEO Compensation
  • Joe's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Joe's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Anworth Mortgage Asset management team in years:

14.5
Average Tenure
59.5
Average Age
  • The average tenure for the Anworth Mortgage Asset management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Joe McAdams

TITLE
Chairman & CEO
COMPENSATION
$190K
AGE
50
TENURE
0.8 yrs

Charles Siegel

TITLE
CFO, Treasurer & Secretary of Anworth Management
COMPENSATION
$79K
AGE
69
TENURE
3.5 yrs

John Hillman

TITLE
VP & Director of Investor Relations
TENURE
17.5 yrs

Heather Baines

TITLE
Executive Vice President of Anworth Management LLC
COMPENSATION
$211K
AGE
77

Bistra Pashamova

TITLE
Senior VP & Portfolio Manager of Anworth Management
COMPENSATION
$1M
AGE
48
TENURE
17.1 yrs

Brett Roth

TITLE
Senior VP & Portfolio Manager of Anworth Management

Megan Davidson

TITLE
Director of Business Development -Belvedere Trust Mortgage Corporation
TENURE
14.5 yrs

Kathryn Pellman

TITLE
Office Manager
Board of Directors Tenure

Average tenure and age of the Anworth Mortgage Asset board of directors in years:

9.7
Average Tenure
68
Average Age
  • The tenure for the Anworth Mortgage Asset board of directors is about average.
Board of Directors

Joe McAdams

TITLE
Chairman & CEO
COMPENSATION
$190K
AGE
50
TENURE
0.7 yrs

Joe Davis

TITLE
Independent Director of Anworth Management LLC
COMPENSATION
$83K
AGE
85
TENURE
22.5 yrs

Mark Maron

TITLE
Independent Director of Anworth Management LLC
COMPENSATION
$77K
AGE
63
TENURE
5.2 yrs

Joseph McAdams

TITLE
Director
COMPENSATION
$286K
AGE
73
TENURE
22.5 yrs

Robert Davis

TITLE
Independent Director of Anworth Management LLC
COMPENSATION
$82K
AGE
74
TENURE
14.2 yrs

Dominique Mielle

TITLE
Independent Director
COMPENSATION
$4K
AGE
50
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
29. Mar 19 Buy Dominique Mielle Individual 29. Mar 19 29. Mar 19 30,000 €3.61 €108,257
X
Management checks
We assess Anworth Mortgage Asset's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Anworth Mortgage Asset has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AOG News

Simply Wall St News

AOG Company Info

Description

Anworth Mortgage Asset Corporation operates as a real estate investment trust (REIT) in the United States. It primarily invests in, finances, and manages a leveraged portfolio of residential mortgage-backed securities and loans that are guaranteed by government-sponsored enterprises, such as the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation. The company also invests in non-agency mortgage backed securities, which are secured by first-lien residential mortgage loans; and other mortgage-related investments consisting of mortgage derivative securities, subordinated interests, and residential real estate properties. Anworth Mortgage Asset Corporation qualifies as a REIT for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Anworth Mortgage Asset Corporation was founded in 1997 and is based in Santa Monica, California.

Details
Name: Anworth Mortgage Asset Corporation
AOG
Exchange: DB
Founded: 1997
$337,400,222
98,645,229
Website: http://www.anworth.com
Address: Anworth Mortgage Asset Corporation
1299 Ocean Avenue,
2nd Floor,
Santa Monica,
California, 90401,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ANH Common Stock New York Stock Exchange US USD 12. Mar 1998
DB AOG Common Stock Deutsche Boerse AG DE EUR 12. Mar 1998
NYSE ANH.PRA PFD A 8.625% New York Stock Exchange US USD 04. Nov 2004
NYSE ANH.PRC PFD SER C 7.625% New York Stock Exchange US USD 23. Jan 2015
NYSE ANH.PRB PFD B 6.25% New York Stock Exchange US USD 30. Jan 2007
Number of employees
Current staff
Staff numbers
0
Anworth Mortgage Asset employees.
Industry
Mortgage REITs
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 21:26
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/06/07
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.