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Is Annaly Capital a Buy?

TheMotleyFool

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Is Annaly Capital a Buy?: https://g.foolcdn.com/editorial/images/743002/generic-mortgage.jpg

Life has been difficult for companies in the mortgage industry over the past 18 months. The Federal Reserve has been aggressively hiking interest rates to damp inflation, reducing the value of fixed income securities including mortgage-backed securities (MBS).

That has translated into declining book values for mortgage real estate investment trusts (REITs), which invest in the securities. One of them, Annaly Capital Management (NYSE: NLY), just reported second-quarter earnings. Is the stock a buy?

Image source: Getty Images.

Source Fool.com

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