NEW YORK, NY -- (Marketwire) -- 06/19/12 -- Diversified REITs have taken advantage of low borrowing rates, which are not expected to rise until 2014, to boost profits and provide high dividends. With interest rates and bond yields near record lows investors have flocked to REITs for gains as the U.S. housing market continues to show signs of a long awaited recovery. The Vanguard REIT ETF (VNQ) is up nearly 10 percent year to date. The Paragon Report examines investing opportunities on diversified REITs and provides equity research on Chimera Investment Corporation (NYSE: CIM) and ARMOUR Residential REIT, Inc. (NYSE: ARR).
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DataQuick in the last month home prices and sales have risen. The average sale price for the past 30 days jumped $7,000 to $189,500 from a month earlier. Sales during the same period increased 8.2 percent. According the a recent Bloomberg article Harvard's annual State of the Nation's Housing report also sees the U.S. housing market showing signs of recovery and unless the broad economy receives a major blow, the housing market should continue to improve.
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Chimera Investment Corporation is a specialty finance company that invests in residential mortgage-backed securities (RMBS), residential mortgage loans, real estate-related securities and various other asset classes. Chimera currently offers investors an annual dividend of $0.44 per share for a yield of around 16 percent. Shares of the company are up over 12 percent year-to-date.
ARMOUR Residential is a Maryland corporation that invests primarily in hybrid adjustable rate, adjustable rate and fixed rate residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. Government-chartered entities. ARMOUR currently offers investors an annual dividend of $1.20 per share for a yield of around 17 percent. Shares of the company are up over 5 percent in the last three months.
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