1. Real Estate

  2. •

    REIT - Mortgage
CYS Investments, Inc.

CYS Investments, Inc.

CYS
CYS Investments, Inc.US flagNew York Stock Exchange
7.31
USD
-0.05
- -
2007 Y
2008 Y
2009 Y
2010 Y
2011 Y
2012 Y
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
TTM
Revenue per Share
3.49
4.4
6.72
-0.63
3.81
2.25
-3.9
2.77
0.1
0.36
1.34
0.4
Basic EPS, GAAP
-4.58
-5.48
5.46
0.38
3.53
2.12
-3.04
2.5
-0.16
-0.04
1.05
0.12
Free Cash Flow per Basic Share
152
105.92
-75.38
-41.7
-54.58
-40.3
18.09
1.35
1.65
1.52
1.64
1.62
Dividend per Share
2.54
1.83
1.33
1.29
2.25
2.05
1.46
1.37
1.23
1.57
1.14
1.13
Book Value per Share
-0.42
1.62
1.7
1.27
0.96
0.53
-3.36
-2.1
-3.33
-6.11
-4.37
-5.32
Tangible Book Value per Share
20.4
13.82
20.91
11.59
13.02
13.32
9.3
10.56
9.18
11.49
8.57
7.56
Basic Weighted Avg Shares
6
7
12
60
83
175
162
162
156
111
153
153
Sales/Revenue/Turnover
23
31
78
-38
315
393
-630
448
16
40
204
61
Operating Margin (%)
76.77
75.4
91.06
127.8
92.64
94.78
103.34
94.9
-29.64
40.98
- -
249.39
Depreciation Expense
- -
- -
9
- -
- -
- -
- -
20
18
- -
- -
- -
Net Income, GAAP
-30
-39
64
22
292
373
-476
426
-5
16
181
39
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-131.42
-124.38
81.35
-59.5
92.64
94.78
75.48
94.9
-29.64
40.98
88.74
63.1
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
- -
- -
- -
- -
- -
- -
- -
- -
2,099
- -
- -
- -
Total Equity
132
99
244
690
1,077
2,403
1,769
1,975
1,695
1,536
1,574
1,427
Return on Invested Capital (%)
- -
- -
- -
- -
- -
21.42
- -
22.74
- -
0.62
- -
10.36
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
406.93
46.82
375.75
429.79
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

•

in mil. unless spec.
Sep'17
Dec'17
Mar'18
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
266
266
266
Shares Outstanding
155
155
155
Market Capitalization
1,178
1,137
990

Working Capital

FRC

•

in mil. unless spec.
Sep'17
Dec'17
Mar'18
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
1
4
6
Accounts Receivable, Net
33
33
39
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
1,423
1,481
642
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
44.79%
-7.16%
2.51%
Free Cash Flow
-12.14%
-40.39%
48.75%
Net Income, GAAP
97.92%
8.73%
1,005.86%
Sales/Revenue/Turnover
-84.03%
6.31%
410.61%
Total Cash Common Dividend
55.39%
-14.41%
0.26%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2016
68
62
85
-175
40
2017
40
56
93
15
204
2018
-103
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2016
0.37
0.34
0.49
-1.23
-0.04
2017
0.19
0.3
0.54
0.02
1.05
2018
-0.73
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2016
0.03
0.3
0.29
0.54
1.57
2017
0.03
0.29
0.28
0.53
1.14
2018
0.03
- -
- -
- -
- -

Company Description

APIChat
Sector
Real Estate
Industry
REIT - Mortgage
Address
IPO Date
Jun 12, 2009
Similar Companies
Arlington Asset Investment Corp. (AAIC)
Rithm Capital Corp. (RITM-PC)
Adamas Trust, Inc. (ADAMI)
Ready Capital Corporation (RCB)
Blackstone Mortgage Trust, Inc. (BXMT)
Lument Finance Trust, Inc. (LFT-PA)
Business
CYS Investments, Inc. (CYS) operates as a specialty finance company and real estate investment trust (REIT) that primarily invests on a leveraged basis in residential mortgage pass-through certificates, known as Agency residential mortgage-backed securities (RMBS), for which principal and interest payments are guaranteed by U.S. government-sponsored enterprises such as Fannie Mae, Freddie Mac, or Ginnie Mae; the company focuses on generating consistent risk-adjusted investment income through these securities while electing REIT status to avoid federal corporate income tax on qualifying distributions. Founded in 2006 by Kevin E. Grant and headquartered in Waltham, Massachusetts, CYS targets institutional and retail investors in the U.S. mortgage REIT sector with operations centered in the United States. In a significant strategic development, Two Harbors Investment Corp. completed its acquisition of CYS on July 31, 2018, for approximately $1.2 billion in a stock-and-cash transaction valuing CYS at around $1.5 billion enterprise-wide; post-merger, CYS became a wholly owned subsidiary of Two Harbors, with CYS common stockholders receiving 0.4680 shares of Two Harbors common stock plus $0.0965 per share in cash, and Two Harbors assuming CYS's outstanding preferred stock series. This merger enhanced scale, diversification, and liquidity for the combined entity, integrating CYS's Agency RMBS portfolio into Two Harbors' hybrid mortgage REIT operations without reported major subsequent changes, acquisitions, or product launches for CYS as a standalone entity.