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0 0 0.000378995433789882 0.000378995433789882 0.000831050228310512 0.00215068493150687 0.0018264840182648 0.00228310502283092
Stock impact report

NLY-F Preferred: A 5% Spread Over T-Bills With Floating Income [Seeking Alpha]

Annaly Capital Management Inc. (NLY) 
Last annaly capital management inc. earnings: 4/29 04:15 pm Check Earnings Report
US:NYSE Investor Relations: annaly.com/investors
Company Research Source: Seeking Alpha
NLY-F's floating structure sharply reduces duration risk and price volatility vs. fixed-rate preferreds, adjusting payouts upward as rates rise. The preferreds benefit from Annaly's $16B equity cushion, moderate 5.5x leverage, diversified funding, and robust liquidity and hedging practices. With call risk capped and a high yield premium over Treasuries, NLY-F is compelling for income-focused investors comfortable with mREIT structures. Dougal Waters/DigitalVision via Getty Images Annaly Capital Management's 6.95% Series F Fixed-to-Floating Preferred ( NLY.PR.F ) has a current yield of 8.8%. That figure is high enough to make it unusual among most investment-grade preferred securities. Just as a point of reference, iShares Preferred and Income Securities ETF ( This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I w Show less Read more
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