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American Capital
Agency (AGNC)
Invests
in single-family, adjustable-rate
and fixed-rate mortgage-backed securities that are guaranteed by
government agencies Fannie Mae
and Freddie Mac. A May 2008 IPO controlled by American Capital
Strategies (ACAS).
Annaly
Capital Management (NLY)
Invests
in single-family, adjustable-rate and fixed-rate mortgage-backed
securities that are guaranteed by government agencies Fannie Mae
and Freddie Mac.
Anworth
Mortgage Asset (ANH)
Invests
in single-family, adjustable-rate
and fixed-rate mortgage-backed securities that are guaranteed by
government agencies Fannie Mae
and Freddie Mac.
Apollo
Commercial R. E. Finance (ARI)
This September 2009 IPO, externally managed
by Apollo Global Management, invests
in performing, non-distressed, US commercial real estate loans,
commercial mortgage-backed securities (CMBS), and other commercial real
estate debt investments.
Arbor
Realty Trust (ABR)
Provides specialty financing, such as mezzanine and bridge loans for
multifamily and commercial real estate. Externally managed by
Arbor Commercial Mortgage, LLC.
When permitted, pays dividends in stock
rather than cash.
Ashford
Hospitality (AHT)
Invests
in hospitality properties via direct equity investments, first mortgages,
mezzanine loans and sale-leaseback transactions.
BRT
Realty (BRT)
Originates
and holds senior and junior real estate mortgage loans secured by
multi-family residential properties, office buildings, shopping centers,
mixed use buildings, hotels/motels, and industrial buildings.
CapLease (LSE)
Finances commercial real estate that is net leased primarily to single
tenants with investment grade or near investment grade credit ratings.
Capital
Trust (CT)
Makes
mezzanine and other types of specialty backed by commercial real estate
assets. Also manages similar investments for institutional investors.
Capstead
Mortgage (CMO)
Invests in single-family residential adjustable-rate mortgages
that are guaranteed by government agencies Fannie Mae
and Freddie Mac.
Care
Investment Trust (CRE)
Invests
healthcare-related real estate and commercial mortgage debt. A
2007 IPO externally managed and advised by a unit of CIT Group.
Shareholders and board have approved
liquidation of this trust.
Chimera
Investment Trust (CIM)
An August 2007 IPO, Chimera invests
in residential mortgage-backed securities
including prime, jumbo, and Alt-A loans.
Externally managed by Annaly
Capital Management, Chimera invests in riskier loans than Annaly that it
purchases at a discount.
Colony Financial (CLNY)
This September 2009 IPO, externally
managed by Colony Capital, originates,
purchases, and manages commercial mortgage loans and other
commercial real estate related debts.
Crexus
Investment Corp. (CXS)
September 2009 IPO acquires, manages and finances commercial mortgage
loans, commercial real estate debt, commercial mortgage-backed
securities, and other commercial real estate-related assets.
Externally managed by Annaly
Capital Management.
Cypress Sharpridge
Investments (CYS)
A June 2009 IPO, Cypress invests
in derivatives of single-family, adjustable-rate and fixed-rate mortgage-backed
securities that are guaranteed by government agencies Fannie Mae
and Freddie Mac.
Deerfield Capital (DFR)
Invests in corporate loans, commercial real
estate loans and residential mortgage-backed securities.
Dynex
Capital (DX)
Invests
in loans secured by single-family residential and commercial property
mortgages.
Franklin Street
Properties (FSP)
Provides real estate and investment
banking, and property management services.
Also owns office buildings
and other commercial properties.
Gramercy
Capital (GKK)
Originates and acquires senior
loans, mezzanine loans and distressed property loans secured by
commercial and multi-family properties.
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Hatteras Financial
(HTS)
Invests in single-family,
adjustable-rate and fixed-rate mortgage-backed securities that are
guaranteed by government agencies Fannie Mae and Freddie Mac. Externally
managed by Atlantic Capital Advisors.
Invesco Mortgage
Capital (IVR)
A June 2009 IPO, Invesco invests
in residential and commercial mortgage-backed securities.
Externally managed by Invesco Ltd.
iStar
Financial (SFI)
Provides custom- tailored investment capital mostly to high-end private
and corporate owners of commercial real estate. Financing includes
senior and mezzanine real estate debt, senior and mezzanine corporate
capital, as well as corporate net lease financing and equity. iStar has
also financed high-rise condominium construction projects.
MFA
Mortgage Investments (MFA)
Invests
in single-family, adjustable-rate
and fixed-rate mortgage-backed securities that are guaranteed by
government agencies Fannie Mae
and Freddie Mac. Also invests in mortgage-backed securities
rated in one of the two highest rating categories by at least one
nationally recognized rating agency.
National
Health Investors (NHI)
Finances
mostly long-term health care properties via first mortgages and purchase and
leaseback transactions.
Newcastle
Investment (NCT)
Invests
in mortgages on residential, manufactured housing, and commercial properties.
Managed by a unit of Fortress Investment Group LLC.
NorthStar Realty Finance (NRF)
Primarily originates and invests in
debt and other securities secured by commercial real estate properties.
Also takes ownership positions in commercial properties.
PennyMac Mortgage Investment Trust (PMT)
A July 2009 IPO, PennyMac, externally managed by Private National
Mortgage Acceptance Company, invests primarily in residential mortgage
loans and related assets.
PMC Commercial
Trust (PCC)
Originates loans to small businesses such as
motels, franchises,
shopping centers, apartments, office buildings, retail stores, and
factories, primarily secured by
related real estate.
RAIT
Investment Trust (RAS)
Invests in commercial mortgages, mezzanine loans and other loans, trust
preferred securities, subordinated debentures and other real
estate-related debt securities and investments.
Redwood Trust (RWT)
Invests in residential and commercial real estate loans, and in
asset-backed securities backed by real estate loans. It credit-enhances
loans by acquiring and managing the first-loss and credit-sensitive
securities that bear the credit risk of securitized loans.
Resource
Capital (RSO)
Invests in commercial real estate-related assets such as whole loans,
A-notes, B-notes, mezzanine loans and mortgage-related securities and
commercial finance assets such as other asset-backed securities, senior
secured corporate loans, equipment leases and notes, trust preferred
securities, debt tranches of collateralized debt obligations and private
equity investments principally issued by financial institutions.
Starwood Property
Trust (STWD)
An August 2009 IPO, Starwood invests in commercial mortgage loans and
related assets.
Two Harbors
Investment (TWO)
Invests in residential mortgage-backed securities. Externally managed by
a unit of Pine River Capital Management. Started operations on
10/28/09 after merger with Capital Acquisition Corporation.
W. P. Carey
(WPC)
Provides long-term sale-leaseback and build-to-suit financing for
companies worldwide. Also manages real estate properties for clients.
Vestin Realty
Mortgage I (VRTA)
Makes commercial real estate loans, primarily to real estate developers,
in nine states.
Vestin Realty
Mortgage II (VRTB)
Makes commercial real estate loans, primarily to real estate developers,
in nine states.
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