Is Annaly Capital Management a Buy?
The last two months have been absolute misery for investors in mortgage real estate investment trusts (mREITs). The COVID-19 crisis caused credit to tighten, which wreaked havoc on leveraged mortgage portfolios. Every mREIT has been forced to reduce its balance sheet by selling assets at depressed levels and using the proceeds to pay down debt.
As a result, virtually every mREIT has seen large reductions in book value and has cut its dividend.
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Source Fool.com