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NLY - Annaly Capital Management Inc.

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, Jun 20, 2019.

  1. Marvan

    Marvan Active Member

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    Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets.

    The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments.

    It also provides financing to private equity-backed middle market businesses; and operates as a broker-dealer.

    The company has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders.

    Annaly Capital Management, Inc. was founded in 1996 and is based in New York, New York.

    http://www.annaly.com
     
    Syynik and TomB16 like this.
  2. Marvan

    Marvan Active Member

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  3. Marvan

    Marvan Active Member

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    Annaly Capital Management, Inc. (NLY), a Maryland corporation (“Annaly” or the “Company”), today announced that it has priced a public offering of an original issuance of 16.0 million shares of its 6.750% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the “Series I Preferred Stock”), liquidation preference $25.00 per share, for gross proceeds of approximately $400 million before deducting the underwriting discount and other estimated offering expenses.

    The offering is subject to customary closing conditions and is expected to close on or about June 27, 2019.

    The Company intends to apply to list the Series I Preferred Stock on the New York Stock Exchange under the symbol “NLYPrI.”

    https://uk.finance.yahoo.com/news/annaly-capital-management-inc-announces-210000721.html
     
  4. Marvan

    Marvan Active Member

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  5. Marvan

    Marvan Active Member

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  6. TomB16

    TomB16 Well-Known Member

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    Annaly has been a distribution monster for a long, long time. I first started tracking it about a decade ago but friends of mine have been holding it much longer.

    It has had an epic run and has been a great core portfolio stock, IMO.
     
    #6 TomB16, Feb 17, 2020
    Last edited: Feb 18, 2020
  7. Marvan

    Marvan Active Member

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    I purchased Annaly in june 2019 because i did believed it was undervalued, it has a nice dividend but Annaly can never be a core investment for me as a Belgian because of the very high dividend taxes (15 + 30%).

    For same reason, I can only hold American stocks indirectly via some English investment trusts and some Belgian Holding companies.
     
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  8. Marvan

    Marvan Active Member

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    Increased my position.
     
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  9. Marvan

    Marvan Active Member

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    Annaly Capital Management, Inc. Issues Letter to Shareholders

    Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") announced today that it has issued a letter to its shareholders reiterating the strength of its financial and risk position as of March 31, 2020 during this period of volatility in the mortgage and credit markets. The full text of the letter is below.

    UPDATE FOR ANNALY SHAREHOLDERS

    Dear Fellow Shareholders,

    Following the end of the quarter, we wanted to provide an update to investors and key stakeholders of the firm reaffirming our confidence in the strength and resilience of our business during this period of dislocation in mortgage and credit markets.

    Annaly is an industry leader with a differentiated platform. We have a more than twenty-year track record managing Agency MBS, interest rate, short-term financing and credit risk over many cycles. The size of our capital base and deep financing relationships, along with our measured decisions with respect to managing the composition of our portfolio and risk profile, have been critical to our ability to successfully navigate through environments like the one we face today. While the operating environment has been challenging and the situation is dynamic, Annaly continues to benefit from its robust balance sheet, prudent risk management, and strong liquidity, which has been further fortified over recent weeks.

    In the spirit of continued transparency during this time of uncertainty, below are preliminary updates on our business and financial performance, which demonstrate our ability to successfully weather these uncertain times:

    • Portfolio composition. Our portfolio is well positioned with approximately 93% of our assets as of March 31, 2020 comprised of Agency MBS, which have seen both improved liquidity and valuations as a result of supportive actions taken by the Federal Reserve. Since the beginning of the year, including during the month of March, we have proactively reduced the size of the portfolio to manage our leverage profile. As of March 31, 2020, our total portfolio1 was approximately $99 billion, compared to $128.7 billion at December 31, 2019, and our repo balance was accordingly reduced to $72.6 billion from $101.7 billion at December 31, 2019.
    • Economic leverage. We estimate that on a preliminary basis our economic leverage ratio was reduced to between 6.8:1 and 6.9:1 at March 31, 2020, compared to 7.2:1 at December 31, 2019, representing modest leverage relative to our historical levels as well as peers.2
    • Liquidity position. We have maintained a strong liquidity position, with cash and unencumbered Agency MBS of $4.6 billion and total unencumbered assets of $7.2 billion, as of March 31, 2020. Additionally, our repo operations have been orderly with no collateral or margining issues.
    • Book value per common share. We estimate that on a preliminary basis our book value per common share at March 31, 2020 was between $7.40 and $7.60 compared to $9.66 per common share at December 31, 2019.
    • GAAP Net income (loss) per average common share. We estimate that on a preliminary basis our net income (loss) per average common share for the quarter ended March 31, 2020 was estimated between $(2.40) and $(2.60), compared to $0.82 per average common share for the quarter ended December 31, 2019.
    • Core earnings (excluding PAA) per average common share. We estimate that on a preliminary basis our core earnings (excluding the premium amortization adjustment, or PAA) were estimated between $0.20 and 0.21 per average common share for the quarter ended March 31, 2020, compared to $0.26 per average common share for the quarter ended December 31, 2019.
    • Cash dividend. As previously announced on March 16, 2020, we declared the first quarter 2020 common stock cash dividend of $0.25 per common share. This dividend is payable April 30, 2020, to common shareholders of record on March 31, 2020.
    • Repurchase program. Annaly has a $1.5 billion share repurchase program, which was authorized by our Board of Directors in June 2019.
    Per share amounts at March 31, 2020 are based on 1,430,424,398 common shares issued and outstanding as of such date.

    The health and well-being of our staff and partners have been our priority and all of our employees have been working from home to best protect our communities and families. Our extensive business continuity planning and infrastructure have well prepared us for the current reality of remote work and all of our operations have been and continue to be fully functioning. It is our talented staff who equips us to meet the many challenges that we have faced over our history, including the COVID-19 pandemic.

    Rest assured that we remain focused on long-term value creation. We are confident in our business model and our emphasis is on capital preservation and active management of our diverse portfolio of investments. The mortgage REIT industry plays an important role supporting real estate finance and we wish other industry players success in navigating through this difficult environment brought on by the health crisis.

    We thank you for your continued support throughout these times and assure you we have our full team dedicated to managing our portfolio, liquidity and the risks before us. We are committed to proactively communicating with you as the situation evolves. To that end, we look forward to sharing our 2019 Annual Report and 2020 Proxy Statement shortly, which will provide more information on the Company.

    We hope you remain safe and look forward to speaking with you on the Q1 2020 Earnings Call later this month.

    Best,

    David Finkelstein

    https://uk.finance.yahoo.com/news/annaly-capital-management-inc-issues-201500268.html
     
    #9 Marvan, Apr 9, 2020
    Last edited: Apr 9, 2020
    Syynik likes this.
  10. Marvan

    Marvan Active Member

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    Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or the "Company") today announced its financial results for the quarter ended March 31, 2020.

    Financial Highlights

    • GAAP net income (loss) of ($2.57) per average common share for the quarter
    • Core earnings (excluding PAA) of $0.21 per average common share for the quarter
    • GAAP return on average equity of (102.17%) and core return on average equity (excluding PAA) of 9.27% for the quarter
    • Book value per common share of $7.50
    • Economic leverage of 6.8x down from 7.2x in the prior quarter
    • Declared quarterly common stock cash dividend of $0.25 per share
    https://uk.finance.yahoo.com/news/annaly-capital-management-inc-reports-201500240.html
     
  11. Marvan

    Marvan Active Member

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    CEO, Chief Investment Officer & Director David Finkelstein Just Bought 25% More Shares In Annaly Capital Management, Inc. (NYSE:NLY)

    Annaly Capital Management, Inc. (NYSE:NLY) shareholders (or potential shareholders) will be happy to see that the CEO, Chief Investment Officer & Director, David Finkelstein, recently bought a whopping US$603k worth of stock, at a price of US$6.03. Not only is that a big swing, but it increased their holding size by 25%, which is definitely great to see.

    Annaly Capital Management Insider Transactions Over The Last Year
    In fact, the recent purchase by CEO, Chief Investment Officer & Director David Finkelstein was not their only acquisition of Annaly Capital Management shares this year. They previously made an even bigger purchase of US$956k worth of shares at a price of US$9.56 per share. That means that even when the share price was higher than US$6.28 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.

    In the last twelve months Annaly Capital Management insiders were buying shares, but not selling. The average buy price was around US$8.29. These transactions suggest that insiders have considered the current price attractive. The chart below shows insider transactions (by individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

    https://uk.finance.yahoo.com/news/ceo-chief-investment-officer-director-132911788.html
     

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