Annaly Capital Management (NYSE: NLY) offers a high dividend yield over 14% and recently increased its dividend. However, it operates differently from traditional REITs, focusing on mortgage securities. This unique model comes with risks, including volatility in portfolio value due to factors like interest rates and housing market dynamics. While Annaly may not suit dividend-focused investors, it has delivered total returns comparable to the S&P 500, making it appealing for asset allocators seeking diversification. Consider your investment goals before deciding to invest in Annaly for potential long-term growth.

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