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Last Trade
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Last Trade:
$17.29
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Change:
-0.59 (-3.30%)
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Trade Time:
Feb 09
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Market Cap:
$9.56B
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Description of Business
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Annaly Capital Management, Inc. owns, manages, and finances a portfolio of
investment securities, including mortgage pass-through certificates,
collateralized mortgage obligations (or CMOs), agency callable debentures, and
other securities representing interests in or obligations backed by pools of
mortgage loans. Our principal business objective is to generate net income for
distribution to our stockholders from the spread between the interest income on
our investment securities and the cost of borrowings to finance our acquisition
of investment securities. We are a Maryland corporation that commenced
operations on February 18, 1997. We are self-advised and self-managed.
We acquired Fixed Income Discount Advisory Company (or FIDAC) on June 4,
2004. FIDAC is a registered investment advisor and is our taxable REIT
subsidiary. FIDAC manages a number of investment vehicles and separate accounts
for which it earns fee income.
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