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TheStreet Open House

8 High-Dividend Stocks With Upside

2. Annaly Capital Management (NLY) owns, manages and finances a portfolio of real estate-related investments including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), Agency callable debentures, and other securities representing interests in the obligations backed by pools of mortgage loans,

The company's board recently declared a Series A Preferred Stock cash dividend of 49.22 cents per share for the third quarter, payable Sept. 1, 2011. Also, for its Series B Preferred Stock, the company declared a cash dividend of 37.5 cents per share payable Sept. 30, 2011. Currently, Annaly has a dividend yield of 14.4%. The five-year net growth rate for dividend per share stands at 40.7%.

For the second quarter of 2011, the company reported GAAP net income of $120.8 million, or 14 cents per share, compared to a net loss of $218.2 million, or 40 cents per share in same quarter prior year. Net interest income for the quarter surged 56.5% to $843.7 million from $538.9 million in the year-ago quarter. Cash and cash equivalents were $401.8 million, up 22.5% from the comparable quarter previous year. Annualized return on average equity stood at 3.6% compared to an annualized loss on average equity of 9.03% for the second quarter of 2010.

Of the 21 analysts covering the stock, 71% recommend a buy and the rest suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 3.3% to $18.88 in the upcoming 12 months.

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