Nomura Securities Downgrades CYS (CYS) and American Capital (AGNC) to Neutral

May 6, 2013 8:18 AM EDT
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Price: $7.88 +0.25%

Rating Summary:
    4 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Nomura Securities downgraded CYS Investments (NYSE: CYS) and American Capital Agency Corp. (Nasdaq: AGNC) from Buy to Neutral. Analyst Bill Carcache noted agency mortgage REITs faced a challenging first quarter.

"We're downgrading AGNC and CYS shares to Neutral from Buy based on our view that mortgage market dynamics are increasingly volatile and unpredictable, making for a less attractive risk/reward. Our AGNC downgrade is also based on heightened risk that the mortgage market will once again become complacent with prepayment risk," said Carcache.

For an analyst ratings summary and ratings history on CYS Investments (NYSE: CYS) click here. For more ratings news on CYS Investments click here.

Shares of CYS Investments closed at $12.01 yesterday.

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