This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Annaly Capital, Borders: After-Hours Trading

NEW YORK (TheStreet) -- Shares of Annaly Capital Management (NLY) slipped in extended trading on Monday after the New York City-based real estate investment trust unveiled plans for a dilutive public offering of 75 million common shares.

The company intends to use the money it raises to purchase mortgage-backed securities for its investment portfolio and for general corporate purposes. As of Sept. 30, Annaly Capital had roughly 622 million outstanding shares, so the offering represents an increase of 12.5%. In addition, underwriters will be able to sell an additional 11.25 million shares to cover over-allotments.



The stock was last quoted at $17.52, down 2%, on volume of almost 750,000, according to Nasdaq.com. In 2010, Annaly shares rose a little less than 3%. Real estate investment trust pay out substantially all of their earnings in dividends, however, which typically keeps a lid on per share performance. For fiscal 2010, the company's declared dividends totaled $2.65 with the final quarterly dividend of the year of 64 cents slated to be paid on Jan. 27 to shareholders of record on Dec. 28.

Wall Street is pretty bullish as 12 of the 16 analysts covering the stock are at either strong buy (5) or buy (7) with the remainder at hold. The analysts' median 12-month price target sits at $18.75.

Annaly said Credit Suisse is acting as the lead book-running manager for the offering, while Barclays Capital, J.P. Morgan Securities, and RCap Securities are sharing the book-running manager duties.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs