Is Annaly Capital Management a Buy?

The current bear market has hit hard, but for savvy investors, it has brought prices and valuations down to create some great buying opportunities. The question investors should be asking themselves is, Which stocks are great buys right now?

Let's take a look at Annaly Capital Management (NYSE: NLY), a New York City-based mortgage real estate investment trust (REIT). Is Annaly Capital a buy?

Like the rest of the market, REITs have been pounded this year. The FTSE Nareit All REITs Index, which tracks all REITs, dropped 17.8% on Monday alone -- the worst day for the stock market since 1987. A major catalyst was the Federal Reserve's decision on March 15 to lower interest rates to the 0%-to-0.25% range. Year to date, the FTSE Nareit Mortgage REIT Index is down 42.3%. Home financing REITs are down 39.6%, while commercial financing REITs are down 48.1%. 

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Source Fool.com