Annaly Capital Management (NLY) is a leading diversified capital manager that invests in, and finances, residential and commercial assets. The company's primary business objective is to generate net income for distribution to its shareholders, and optimize total returns through prudent management of its diversified investment strategies. Annaly is an internally managed corporation that has elected to be taxed as a real estate investment trust (REIT). Due to the company's clear objective to maximize income for its shareholders, Annaly has historically appealed to income-oriented investors. The stock currently yields a substantial 10.2%, a massive yield in the current environment, but how safe is the dividend? I am neutral on the stock.
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