warning on NLY this morning over at thestreet.com

NLY warning:   http://realmoneypro.thestreet.com/articles/02/21/2012/pile-out-its-too-late

Pile Out Before It’s Too Late

 | Feb 21, 2012 | 9:00 AM EST

Annaly Capital (NLY) is a real “hot-button” stock whenever someone criticizes owning it. Why? In Fed chief Ben Bernanke’s zero interest rate policy (ZIRP) world, many people are desperate to find high-yielding vehicles that can provide income to live on, and Annaly certainly seems to fit the bill here.

Briefly, Annaly makes its profits by owning and managing mortgage pass-through certificates, collateralized mortgage obligations (CMOs) and other mortgage-related assets.

I’m going to keep my discussion really simple today in order to allow for some common sense here. Annaly shares closed last week at $16.66 after the company said its next quarterly payout will be $0.57 per share. If that rate were to hold for the next four quarters, it would mean a 13.69% annualized dividend, based on the current quote.

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