This Day On The Street
Continue to site
ADVERTISEMENT
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

Annaly Capital, Borders: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Annaly Capital Management (NLY - Get Report) 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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
NLY $10.14 -0.64%
MPWR $48.18 -0.31%
SE $28.68 1.90%
AAPL $112.42 -0.44%
FB $90.56 0.92%

Markets

Chart of I:DJI
DOW 16,578.10 -76.67 -0.46%
S&P 500 1,984.56 -3.10 -0.16%
NASDAQ 4,817.6020 +4.8940 0.10%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs