Notes from Annaly earnings call; stock up 1.2%

You've got to take risk to earn money, says Annaly Capital (NLY +1.2%) management, pressed on the earnings call for its somewhat aggressive stance even as it believes short-term rates are set to rise.

There just aren't a lot of great values out there in fixed-income at the moment, says the team, and the mREITs may be one of the last cheap asset classes (Annaly trades at a 15% discount to book).

Earnings call presentation slides

Sterne Agee upgrades Annaly to a Buy following the earnings beat and big rise in book value. Compass Point reiterates its Neutral rating, saying the removal of hedges was behind the big Q2.

Previously: Annaly on sale after big gain in book value

Previously: Annaly Capital Management beats by $0.03

From other sites
Comments (2)
  • Capt Jack Daniels
    , contributor
    Comments (1466) | Send Message
    A 5 to 1 leverage ratio is hardly aggressive.
    7 Aug 2014, 10:59 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11355) | Send Message
    The 10 Year is back down to 2.46%


    (NYSE:NLY) is truly in a sweet spot to mint cash right now.
    7 Aug 2014, 11:18 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs