Jim Cramer on Annaly: "I Have Been Against Annaly For Many, Many Years"

Annaly Capital Management, Inc. (NYSE:NLY) is one of the 13 stocks recently discussed by Jim Cramer. A caller asked for Cramer’s thoughts on the company, and in response, he commented:

“I have been against Annaly for many, many years because I think all it is just this mishmash of securities that I never know what they are because they don't, you know, they don't really tell you, and it's got a big yield, but I want to own growth. Growth is the only safety in this market.”

Annaly Capital Management, Inc. (NYSE:NLY) is a real estate investment trust that manages a diversified portfolio of mortgage-related assets, including agency and non-agency securities, mortgage loans, and servicing rights. In 2022, when a caller discussed that the company’s dividend is safe, Cramer replied that despite it, “I’m not going to recommend that stock.” For context, since the comment was aired, NLY stock is down about 27%.

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Disclosure: None. This article is originally published at Insider Monkey.