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Annaly Capital (NLY): Q4 earnings of $0.46 beats by $0.11. Book value/share of $15.86. Shares...

Annaly Capital (NLY): Q4 earnings of $0.46 beats by $0.11. Book value/share of $15.86. Shares +0.3% AH. (PR)
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Comments (4)
  • Regarded Solutions
    , contributor
    Comments (18299) | Send Message
    Could these results be a tad misleading?


    From the report itself:


    "net income for the quarter ended December 31, 2012, was $465.1 million or $0.46 per average common share as compared to $525.3 million or $0.54 per average common share for the quarter ended December 31, 2011, and $449.8 million or $0.45 per average common share for the quarter ended September 30, 2012."
    6 Feb 2013, 04:43 PM Reply Like
  • stockpiler
    , contributor
    Comments (29) | Send Message
    I don't think the results are misleading, but the headline certainly is!


    I've been following your commentary for well over a year now, RS, and respect your perspective and analysis of Annaly. I've written elsewhere that with these results, we have seen the floor put in to NLY last quarter in the $13's, and, with the yield spread wideing since year-end, CPR trending lower YoY and QoQ and maybe that continuing in 2013, we might even see a divvy increase this quarter, depending on how they treat leverage (which was up YoY and QoQ).


    I think, in any case, the stock should provide a solid total return.


    What do you think? (I'm sure you're probably writing your next analysis even as I write this!)
    6 Feb 2013, 05:51 PM Reply Like
  • joecap4c
    , contributor
    Comments (76) | Send Message
    13% DIV is wonderful and will continue faint of heart with very little equity will always bail out I think it is best to stay with a good position in mreits. P&G and others don't light my fire
    6 Feb 2013, 10:05 PM Reply Like
  • kingdad
    , contributor
    Comments (1140) | Send Message
    I would tend to agree with Stockpiler's comments, I see a better year for mReits than most others do. I certainly think we could see dividend increases in the 3rd or 4th Qtr. So Far the results of those reporting mReits have been as expected down some but solid going forward, No announced divy reductions. It appears that most management teams have been scrambling long and hard to deal with the latest Bernanke attempt to manipulate the marketplace and their success or failure will take more than 1 Qtr to ascertain. As the 4th Qtr results continue to come in this would be good to remember.
    7 Feb 2013, 07:52 AM Reply Like
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