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Annaly Capital Management, Inc. Message Board

  • jakk_key jakk_key Dec 22, 2004 9:34 PM Flag

    NFI dividend.... $2.65 for Q4!!!

    Ka frigggin ching.... Its not to late to get this in the AM because it is for holders of record as of Dec. 31.

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    • no to critisize but that isn't exactly a good investment policy IMHO

      The value of an item is its value today
      What are your opportunity costs etc

    • NFI has been a favorite target for shorts for quite a while and today�s report has unleashed a huge short attack. IN fact the recent runup of NFI had left many shorts on the verge of callapse and even with the decline more are under water than above. This has happened before and if you are dividend seeker it really is a buy opportunity.

      My two major income stocks are NLY and NFI. Both have natural volatility that make then attractive for shorts. If you are in for the dividend and holding long unless the company completely falls apart, all will be well--especially if you are dripping. Down means more shares when it drips, up means higher pps and higher total assets.

      Right now NFI is becoming a good buy now that it is down around $50. If you hurry you can get the special dividend. I believe you have to buy by Dec 27.

      I stand strong with NLY and NFI and love the dividends.

    • chief_tom_tom_tumbling_dice chief_tom_tom_tumbling_dice Dec 23, 2004 1:12 PM Flag

      The drop in NFI is meaningless, it is just a paper loss. What matters is the dividend.
      Same deal with NLY, doesn't matter to me if it goes to $14 this year as long as I get the dividend.

    • Yikes! Scratch that. NFI down 9% in pre-market trading. GAAP does matter, despite what NFI holders would like to believe.

    • NFI dividend.... $2.65 for Q4!!!
      by: jakk_key 12/22/04 09:34 pm
      Msg: 22507 of 22507

      Ka frigggin ching.... Its not to late to get this in the AM because it is for holders of record as of Dec. 31.

      Just be careful. This stock has had a big run up since late Nov. on this bad news (read the company anouncement) it could fall badley after the div

      • 1 Reply to justsliding2
      • This is not bad news if you understand MREITs. The bad news that Justsliding is referring to is the fact that NFI guided down on GAAP earnings. GAAP earnings are irreleavent for MREITs like NFI and NLY because they must pay dividends based on taxable income. GAAP rules require that impairments on the portfolio are recognized... however GAAP rules do not allow for gains from offsetting hedges to be recognized. This is the case with NFI. The GAAP earnings will be in the range of $4.20 for 2004.... however, Taxable Income per share will be in the range of $9.50. And, REITS must pay dividends at the rate of 90% of the taxable income by the time they file their annual tax return. GAAP plays no role in the computation of the dividend. NFI guided down for GAAP, because of the compression of the yield curve. However, this was fully hedged in the money markets and that is why TI will not go down. Read the NFI announcement carefully and you'll unerstand.

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