Cypress Sharpridge Investments Inc
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Cypress Sharpridge Investments (NYSE:CYS) is a real estate investment company created as a specialty finance company. They invest, using debt ("leverage basis") to buy residential mortage pass-through securities which are agency RMBS (Residential Mortgage Backed Securities) guaranteed by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae).
Kevin E. Grant is President and Chief Executive Officer. Cypress Sharpridge was founded in January 2006. It's managed by Cypress Sharpridge Advisors LLC and Sharpridge Capital Management, L.P. They held their IPO June 1, 2009. Corporate headquarters are in New York City, New York.
Cypress Sharpridge Investments Profits From the Interest Rate Spread
Basically, they receive interest income from the bond securities they buy. They have to pay interest on the money they borrow. They profit from the difference (spread) between these two interest rates.
Cypress Sharpridge Investments can make a profit so long as they can make their agency RMBS investments yield a higher interest rate than what they have to pay on capital they borrow.
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