Dallas, Texas 11/13/2013 (Financialstrend) – The President of the $9.9 billion market capped diversified real estate investment trust Annaly Capital Management, Inc. (NYSE:NLY) has been in the thick of things over the past few weeks. In the latest news, it was announced yesterday that Kevin Keyes has gone ahead and purchased a substantive 0.1 million shares of the firm, in turn raising his total stock holdings to impressive 0.3 million shares over all. He has shelled out $10.43 per share which represents a 0.48% premium on November 11 closing price of the stock. Readers should note that this big demonstration of confidence in the stock by management comes in the back of its Chief Executive Denahan purchasing shares worth close to $1 million during trading on Friday. This big spending by the President yesterday managed to push the stock into the unfamiliar green territory. It was up1.25% during trading yesterday, whereas the regular story has been a week on week dip in market value over the past few quarters.
Annaly Capital Management, Inc. (NYSE:NLY) shares lost 8.6% of their overall market value during trading last week in spite of its CEO spending $1 million of his own funds to buy into the stock and support it. In fact at close of business earlier this week, the real estate investment trust stock had slipped into unchartered territory as its prices was trading at levels which it had not seen over a decade in 2001. The further selling pressure on the stock was experienced post lacklustre 3Q operation results. Commenting about the uncertainty surrounding the REIT space, its CEO Denehan Norris has been quoted as saying “I don’t think anybody, given how many people got it wrong, can sit here and sit before you and say that they know exactly when the Fed is going to taper and they know exactly what the impacts are going to be on mortgage assets and all assets in particular.”
