Walter Investment Management Is Hard Not to Like
I found this income play Tuesday while posting on Twitter. The tweet was from Hedgefundinvest: “Sleeper value play WAC seems to be hanging in there post earnings call. Very rich dividend yield which mgmt has reiterated support for.” Sounded interesting so I did some research.
Walter Investment Managment (WAC) is in the mortgage investment field: “[A] mortgage servicer, asset manager and portfolio owner specializing in subprime, non-conforming and other credit-challenged mortgage assets,” according to the company website. Last April, it restructured itself into a REIT (real-estate investment trust) and has since been trading in the $12 – $18 range with most of the activity centered between $13 and $15.
Investing, Long Term Investment, stock market | admin February 23, 2010
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