NYMTZ - Annaly Capital's BV Sector Valuation And Dividend Vs. 19 MREIT Peers - Part 1 (Post Q1 2022 Earnings)

• Part 1 of this article compares NLY’s recent investment composition, leverage, hedging coverage ratio, quarterly BV, economic return (loss), and current valuation to 19 mREIT peers.
• My buy, sell, or hold recommendation, current BV projection (BV as of 6/10/2022 and 6/14/2022), and updated price target for NLY is in the “Conclusions Drawn” section of the article.
• I also provide a list of the mREIT stocks I currently believe are undervalued (a buy recommendation), overvalued (a sell recommendation), or appropriately valued (a hold recommendation).
• Due to what has occurred during the second quarter of 2022 (rapid increase in rates/yields), understanding the composition of NLY’s MBS/investment and derivatives portfolio is crucial in understanding current/future performance.
• Part 1 also performs a detailed analysis of NLY’s agency MBS and derivatives portfolios as of 3/31/2022. This includes NLY’s projected performance during the second quarter of 2022 (through 6/14/2022).

For further details see: