Based on a quarterly payout of 45 cents, Annaly's shares have a dividend yield of 12.22%. With a quarterly dividend of $1.25, American Capital Agency's shares have a yield of 17.21%. With so much at stake, especially if long-term interest rates at some point move up very rapidly, Monday's declines for the above REIT stocks aren't very significant. RBC Capital Markets analyst Jason Arnold remains bullish on both REITs, with "outperform" ratings, along with a $19 price target for Annaly and a $34 price target for AGNC. In a note to clients on May 3, Arnold wrote that "Annaly remains a favorite from our coverage -- Valuation remains very attractive at 1.0x book value relative to the roughly 12% dividend yield anticipated over the next 12 months, with returns of this magnitude expected to persist into 2014." Arnold wrote in a note to clients on AGNC on May 5 that "valuation remains attractive at 1.06x book relative to our sizable 16% forward 12-month dividend yield outlook."