dividend halved after crisis-era collapse
NLY is a prime example of why he avoids most mortgage REITs—its share price collapsed by about two-thirds after the financial crisis recovery and the dividend is now roughly half of what it used to be.
NLY is presented as a cautionary mortgage REIT example: its share price fell by roughly two-thirds after the financial crisis and its dividend is now approximately half its prior level, illustrating the structural decay risks in the sector.
"If I Had to Start My High Yield Dividend Portfolio All Over, I'd Do This"