Annaly gains, outperforms ahead of S&P MidCap addition

AGNC Investment

06/09/2022 19:49

** Annaly Capital Management Inc's  NLY.N  shares up 2.2% at
$6.52 on Tues as mortgage REIT to be added to S&P MidCap 400
 .IDX  later this month amid index shuffle
    ** Shares rise as much as 6% to $6.76, highest in three
weeks; trading volume of 63,798,575 shares compares to stock's
10-DMA volume of 21,121,106
    ** NLY to join IDX prior to open of trading on Mon, Sept 19
to coincide with S&P Dow Jones Indices qtrly rebalance
    ** NLY has biggest weighting (~18%) in iShares Mortgage Real
Estate ETF  REM.Z , per ETF.com https://www.etf.com/REM#overview,
 followed by Starwood Property Trust Inc  STWD.N  (11%), AGNC
Investment Corp  AGNC.O  (10%) and Blackstone Mortgage Trust Inc
 BXMT.N  (8%)
    ** NLY's stock outperforming on Tues with REM dipping 0.1%,
while STWD up 0.7%, AGNC down 0.6% and BXMT flat
    ** Last month, NLY raised $665 mln of equity after follow-on
priced at $6.65  urn:newsml:reuters.com:*:nL1N2ZE0VM
    ** Shares have ~$11.4 bln market value and dividend yield of
13.8%, per Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))