BGB Securities Initiates 'Buy' Ratings on REITs - NLY, MFA, CMO, HTS & ANH
NLY Hot Sheet
Rating Summary:6 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
BGB Securities initiates coverage on REITs - Annaly Capital (NYSE: NLY), MFA Financial (NYSE: MFA), Capstead Mortgage (NYSE: CMO), Hatteras Financial (NYSE: HTS) and Anworth Mortgage (NYSE: ANH) with a Buy.
Price Targets: NLY = $15.60, MFA = $6.40, CMO = $11.80, HTS = $28, ANH = $6.80
BGB analyst says, "We recommend these stocks more for cash dividends than for price appreciation over the next 12 months, but we expect this group to handily outperform most market indices, particularly other financial stocks, largely because of the clear intent of the combined political and monetary forces to continue to subsidize and stabilize the housing finance markets. These REITs are direct beneficiaries of monetary and political agendas to restore the housing market."
"We are initiating coverage of five agency mortgage REITs, recommending accumulation of positions based on relative value. We think the shares of these companies will garner price support from dividends that will likely stabilize at levels flat to 12% lower than those paid in 2008, as liquidity remains relatively scarce and the outcome of efforts on the part of the Office of Financial Stability remain uncertain."
Annaly Capital Management, Inc. (Annaly) is a real estate investment trust (REIT) that owns and manages a portfolio of mortgage-backed securities.
Price Targets: NLY = $15.60, MFA = $6.40, CMO = $11.80, HTS = $28, ANH = $6.80
BGB analyst says, "We recommend these stocks more for cash dividends than for price appreciation over the next 12 months, but we expect this group to handily outperform most market indices, particularly other financial stocks, largely because of the clear intent of the combined political and monetary forces to continue to subsidize and stabilize the housing finance markets. These REITs are direct beneficiaries of monetary and political agendas to restore the housing market."
"We are initiating coverage of five agency mortgage REITs, recommending accumulation of positions based on relative value. We think the shares of these companies will garner price support from dividends that will likely stabilize at levels flat to 12% lower than those paid in 2008, as liquidity remains relatively scarce and the outcome of efforts on the part of the Office of Financial Stability remain uncertain."
Annaly Capital Management, Inc. (Annaly) is a real estate investment trust (REIT) that owns and manages a portfolio of mortgage-backed securities.
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