- Part 1 of this article compares NLY’s recent investment composition, leverage, hedging coverage ratio, quarterly BV, economic return, and current valuation to twenty mREIT peers.
- Providing sector-wide metrics allows readers to better understand which mREIT companies will likely outperform (or underperform) peers during specific types of interest rate environments.
- Part 1 also performs a detailed analysis of NLY’s MBS and derivatives portfolios as of 6/30/2020. This includes NLY’s projected performance during the third quarter of 2020 (through 9/11/2020).
- My buy, sell, or hold recommendation, current BV projection (BV as of 9/11/2020), 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).
For further details see:
Annaly Capital's BV, Dividend, And Valuation Versus 20 mREIT Peers - Part 1 (Post Q2 2020 Earnings - Continued Attractive Valuation)