The reason may be because its mortgage portfolio has adjustible rate mortgages and the low interest rates are causing the interests rates on the adjustible rate loans to decline when the renewal dates come up each ear.
For example some of these adjustible rate mortgages may have been fixed over a 5 or 7 year period at rates over 5% and during the last year the renewal rates may be as llow as 3% over a fixed year period. . Maybe someone can tell me how much the distributions were 5 to 10 years ago when we did not have such low fed funds rates.
The question is an attempt to determine how much return this investment will pay in more normal times.
Regards