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No. of Recommendations: 2
....and is now saying:

....NLY's book value should be down for Q2 2019, but it shouldn't be down near as much as the price. We witnessed NLY plunge following their "surprising" announcement of a dividend cut. It wasn't a surprise to investors who genuinely understood precisely how mortgage REITs work. Expect a reduction in book value and expect the new dividend at $.25 to be maintained for at least a year, probably two. Beyond that, there's too much that can change for a residential mortgage REIT for projections to carry much weight. With shares trading around $9, they've entered value territory.
We've been bearish before, but we're in the bull camp today....

BL and MFPP Home Fool
(long NLY)
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