Mortgage REITs Dip Lower Amid Financing Challenges
March 19 2020 - 11:09AM
Dow Jones News
By Matt Grossman
Mortgage real-estate mortgage trust shares deepened their weekly
losses Thursday morning as the Covid-19 crisis disrupts credit
markets and jeopardizes commercial tenants.
Mortgage REITs were lower in early trade, with Two Harbors
Investment Corp. dropping more than 8%, Starwood Property Trust
Inc. declining 6%, and Blackstone Mortgage Trust felling about
4%.
The S&P 500 was trading about 1% higher.
The Wall Street Journal reported Wednesday that mortgage REITs
are suffering because they rely on leverage and the Covid-19
outbreak has made it hard to find short-term funding.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
March 19, 2020 10:54 ET (14:54 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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