Annaly Capital Management Inc. is no mood to give shareholders an easy boost by buying back stock, according to Chief Executive Officer Wellington Denahan.
The firm -- the largest real-estate investment trust that buys mortgage debt -- is facing questions about repurchases with its shares trading below a measure of the net value of its assets, Denahan said Thursday on an earnings call. As a REIT, it pays out its profits each quarter as dividends, so buybacks would come out of the capital it uses to invest, she said.
