2024-03-18 13:30:00 ET
Summary
- Annaly Capital Management investors who ignored market pessimism in late 2023 have outperformed the S&P 500.
- NLY is still valued at an attractive forward dividend yield, supporting buying sentiments from income investors.
- The sustainability of Annaly's dividend payouts and the impact of interest rate fluctuations on its earnings are vital factors to consider.
- I explain why my bullish thesis on NLY has run its course and a welcomed pullback is anticipated.
- Bullish investors are urged to consider pausing on NLY's buying opportunities and not chasing it off the cliff.
Annaly Capital Management ( NLY ) investors who ignored the market pessimism in late 2023 have done well, outperforming the S&P 500 ( SPX ) ( SPY ), bolstered by NLY's highly attractive dividend yield. I enunciated Annaly's attractive thesis in my previous update in late November 2023. Accordingly, NLY has outperformed the S&P 500 ((SPX)) ((SPY)) on a total return basis since then, as the market rapidly re-rated its valuation....
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For further details see:
Annaly Capital: Don't Chase This High Yield mREIT Off The Cliff