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Annaly Capital Management, Inc. Message Board

  • Cuz___ Cuz___ Dec 21, 1998 12:57 PM Flag

    good dividend

    Annaly Mortgage Management, Inc. Announces Solid
    Fourth Quarter 1998 Dividend

    NEW YORK, Dec. 21
    /PRNewswire/ -- The Board of Directors of Annaly Mortgage
    Management, Inc. (NYSE: NLY) declared a fourth quarter 1998
    dividend of $0.305 per share of common stock. This
    dividend is payable on January 25, 1999, to common
    shareholders of record as of December 31, 1998.

    Mortgage Management, Inc. continues to validate its
    investment policies with another quarter of steady
    dividends. The Company has demonstrated an ability, in
    rising and falling interest rate environments, to reward
    its shareholders with strong quarterly dividends. As
    Annaly Mortgage Management's track record has unfolded
    during its two years of operation, we would hope
    shareholders, both old and new, will recognize the value of our
    Company," stated Timothy J. Guba, President and Chief
    Operating Officer. The Company has proceeded with the stock
    repurchase plan adopted by the Board of Directors on June
    25, 1998

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    • I have added to my position in NLY each time it
      has dipped below $8. I got 5000 more just last week
      at $7.75. I wish I had bought 20,000. With a solid
      dividend and investment strategy, why hasn't NLY attracted
      more investor interest?I suspect that NLY's repurchase
      plan kicks in around $7.75-8.00. Otherwise the price
      might sag lower just for lack of interest. I'm
      reluctant to buy too much now for fear that the price will
      be lower when the repurcahse plan is
      discontinued.Please give me your perspective. Also, since the whole
      mortgage REIT industry seems under valued, are there any
      other companies I should look at.

      • 1 Reply to orionaslan
      • AXM is Apex Mortgage. It is a mortgage REIT that
        only purchases AAA MBS securities. The REIT is managed
        by TCW, which is one of the best MBS money managers
        today. Their strategy is to buy fixed rate MBS and fund
        with REPO's. The hedge themselves with interest rate
        swaps (unlike NLY) so they will not get the benefit of
        further rate reductions. But their dividend is sound with
        100% of it comming from taxable earnings. Check them
        out. I looked at 8 motgage REITS that focused on
        non-commercial mortgages, and selected NLY and AXM.

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