Company:Anworth Mortgage Asset Corporation
| Type | Public company |
|---|---|
| NYSE: ANH Russell 2000 Index component | |
| Industry | Real estate investment trust |
| Founded | October 20, 1997 |
| Founder | Joseph Lloyd McAdams |
| Headquarters | Santa Monica, California |
Key people | Joseph E. McAdams, Chairman, CEO & President Charles J. Siegel, CFO |
| Revenue |  $154 million (2019) |
| -$64 million (2019) | |
| Total assets | $4.938 billion (2019) |
| Total equity | $552 million (2019) |
| Website | www |
| Footnotes / references [1] | |
Anworth Mortgage Asset Corporation is a mortgage real estate investment trust.
The company borrows money, primarily via short term repurchase agreements, and reinvests the proceeds in asset-backed securities. As of December 31, 2019, 71.1% of the company's assets were mortgage-backed securities issued by either Fannie Mae or Freddie Mac. The company generates profits from the net interest spread between the interest earned from its assets and its borrowing costs, which is amplified from the use of leverage. As of December 31, 2019, the company had a debt-to-equity ratio of 6.2. As of December 31, 2019, the weighted average days to maturity of its repurchase agreements was 28 days. The company is externally managed by Anworth Management, LLC, which is owned by executives of the company; the company pays an annual fee of 1.20% of equity for management services.[1]
History
The company was formed in October 1997. On March 17, 1998, the company commenced operations and became a public company via an initial public offering.[1][2]
In August 2007, the company's subsidiary, Belvedere Trust Mortgage Corporation, received a notice of default.[3]
Effective December 31, 2015, Thad M. Brown retired from his position as chief financial officer and was replaced by Charles J. Siegel.[4]
References
- ↑ 1.0 1.1 1.2 "Anworth Mortgage Asset Corporation 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1047884/000155837020002082/anh-20191231x10k.htm.
- ↑ "Weekly Schedule of Offerings Of Equity and Convertible Debt". The New York Times. March 9, 1998. https://www.nytimes.com/1998/03/09/business/weekly-schedule-of-offerings-of-equity-and-convertible-debt.html.
- ↑ "Anworth Mortgage Asset Corporation Announces Company Updates" (Press release). Business Wire. August 9, 2007. External link in
|publisher=(help) - ↑ "Anworth Mortgage names newest member of its top exec team". American City Business Journals. December 31, 2015. https://www.bizjournals.com/losangeles/news/2015/12/31/anworth-mortgage-s-longtime-cfo-retires.html.
External links
- Business data for Anworth Mortgage Asset Corporation:
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