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Strategies & Market Trends : Annaly Mortgage Management (NLY)
NLY 21.17+2.1%Oct 31 9:30 AM EDT
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To: Angler who wrote (34)2/5/2003 1:06:37 PM
From: minorejoy2000  Read Replies (1) of 75
 
I wrote that a long time ago. My watchlist has changed. I don’t hold NLY that high, and ANH has a close stop loss. I don’t’ know how this format will paste here, but it shows how high value is according to price on these (mostly) reits. NFI is my largest holding. Div yields range as high, you probably know, as 20-21% (NFI), but 15% to 16.5% is not uncommon.

Company Symbol Price Value
Novastar Fin'l NFI 34.26 136.93
Doral FinlCorp DRL 29.62 49.62
Chelsea Ppty Gp CPG 34.3 61.45
NewYork CommBn NYB 29.5 48.16
Prosperity Bcsh PRSP 18.38 29.41
Thornburg Mtg TMA 20.11 53.78
Mid-Atl Rlty Tr MRR 17.26 29.01
Impac MtgeHlds IMH 11.96 42.67
Weingartn Rlty WRI 36.7 61.69
Anworth MrtgAst ANH 12.7 43.1
Annaly MtgMgmt NLY 18.25 56.87
F B R Asset Inv FB 30.42 111.11
Renaissnce Hdg RNR 38.85 73.38
Lexington Pptys LXP 16.05 29.78
Pan Pac Pptys PNP 36.83 60.65
C B L & Assoc. CBL 39.46 61.85
Amer Frst Mrtg MFA 8.84 13.81


The value figure is computed I think rather conservatively. Explanation below. Many other non-reit holdings VV is pretty dismal on value.
The VectorVest (VV) Algorithm computes (recomputes, daily) value according to the following formula:
V=100*(E/I)*SQR [(R+G)/(I+F)]

Where
V= Stock value, in $ per share
E= Earnings per share in $/share
I= AAA Corporate bond rate, in percent
(SQR = Square Root)
R= I*SQR (ROTC/I)
(ROTC= Return on total capital, in percent)
G= Annual earnings growth rate in % per year
F= CPI inflation rate in % per year

Good luck. Wish we could get some good participation. AOL boards best on this sector.
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