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Javelin Mortgage Investment: Is It Time To Move On?

Javelin Mortgage Investment (NYSE:JMI) was once my top mREIT holding up until the summer of 2014. I began selling shares as the company weakened over time. The proverbial straw that broke the camel's back leading me to liquidate my entire position, was the company announcing that it was cutting its dividends for 2015. I recently submitted an article to Seeking Alpha questioning what I ever saw in Javelin's sister company, ARMOUR Residential REIT (NYSE:ARR). At the time of this writing, the paper is still in the editorial review process. In that article, I outlined the multiple issues I had with the company and the reasons I was forced to move from a buy to a sell rating in just a few short months. Let me be clear. Although the two companies have the same external management teams, I feel that Javelin's portfolio was and still is stronger. That said, I believe Javelin was and still is also experiencing many of the same issues that plagued ARMOUR Residential REIT. In this article, I want to assess whether my decision to downgrade Javelin's stock was the right call and to assess if there is life in this stock. Recall that I had downgraded this stock to a hold. I was not ready to say sell yet, but I could not maintain a buy rating with all of the issues. I had stated that, Read more