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Annaly Capital Management, Inc. Message Board

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  • thejumpingsheep thejumpingsheep Mar 15, 2012 11:13 PM Flag

    Question about rates

    Spreads are widening = ++
    NLY has low leverage at a time when spreads are better = ++

    Not knowing whether or not NLY will leverage at this point = uncertain FFO
    Uncertainty = --
    -------------------------------------------------------------------------

    In summary, they are in a perfect position right now. If they decide to unleash the leverage they will have a better portfolio than any other mREIT that has leveraged higher prior to the new spreads. Thus if they leverage then they will outperform all estimates however, it looks like they have a reason for the de-leveraging. Its possible that they may pass on the current spread if they plan to hold course. In the meantime, you will get between 12% & 14%.

    Ill take my chances with these guys. In for 150k shares.

 
NLY
10.63-0.03(-0.27%)Sep 27 4:03 PMEDT