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American Capital profit down
American Capital profit down
Listen to this articleAmerican Capital Mortgage Investment Corp., of Bethesda, a real estate investment trust, reported a $7.2 million profit, or 14 cents per share, for the quarter. That’s about half of the net income for the same period in 2013, when American Capital Mortgage Investment reported a profit of $13.7 million, or 25 cents per share. Common shares were worth $22.24 as of Sept. 30, compared with $22.37 on Sept. 30, 2013. Malon Wilkus, American Capital chair and chief executive officer, said in a statement: “We are very pleased with these results, particularly given the slower than expected pace of reform in the U.S. housing finance system and the periods of significant volatility we have experienced. Our performance demonstrates the benefits of our active portfolio management, strong asset selection, prudent risk management and the continuous development of new investment capabilities that will undoubtedly benefit our shareholders in the years to come.”
