Stock price when the opinion was issued
This is a US REIT that holds commercial and residential mortgage companies. There are 2 companies that hold about 38% of this. One is Annaly Capital (NLY-N) and the other is American Capital Agency (AGNC-Q). Huge yield of 11.89%, only because the share price has dropped from $60-$37 a few years ago. There is some risk here. He could see taking a small position.
This is a really interesting ETF. Yields 11%-13%. It is not a standard REIT in terms of bricks and mortar, but it is a mortgage REIT. He didn't know how you could have this kind of yield without some unstated risk. There is no return of capital so that doesn't apply. The structure of this allows them to play a lot of interesting games in terms of the kinds of credit they will accept. For example, some unrated loans, construction loans, bonds, etc. As a result, there is a higher risk profile on this, but they have managed it pretty well. However, it is quite volatile, so you have to be prepared for this. Do not use this as your core retirement fund.