How to Score 13% With Annaly Capital Management

Unless some Annaly trader screws up, the good times will continue to roll for the real estate investment trust -- at least through 2013.

The concept behind Annaly Capital Management (symbol NLY) is so simple it deserves a hundred imitators and a reputation as grand as Bill Gross's. But Annaly, a real estate investment trust that owns a $113 billion portfolio of mortgage securities, remains obscure, despite a 13.3% dividend yield and an annualized return of 15% over the past five years.

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Jeffrey R. Kosnett
Senior Editor, Kiplinger's Personal Finance
Kosnett is the editor of Kiplinger's Investing for Income and writes the "Cash in Hand" column for Kiplinger's Personal Finance. He is an income-investing expert who covers bonds, real estate investment trusts, oil and gas income deals, dividend stocks and anything else that pays interest and dividends. He joined Kiplinger in 1981 after six years in newspapers, including the Baltimore Sun. He is a 1976 journalism graduate from the Medill School at Northwestern University and completed an executive program at the Carnegie-Mellon University business school in 1978.