Five Cheap REITs Under $10 that Hedge Funds are Bullish On

On the third spot is Annaly Capital Management, Inc. (NYSE:NLY), a $10 billion mortgage REIT, whose stock has slid by over 3% year-to-date and trails a dividend yield of 11.50%. In Annaly Capital Management, Inc. (NYSE:NLY) 20 funds also reported holding stakes as of June 30, but the total value of their holdings declined to $510.36 million, equal to 5.90% of the float, from $1.05 billion held by 18 funds a quarter earlier. Nevertheless, the top two shareholders, Brian Taylor’s Pine River Capital Management and David E. Shaw’s D.E. Shaw, boosted their stakes considerably, to 32.56 million shares and 15.09 million shares respectively. On the third spot, with a much smaller stake, is Jim Simons’ Renaissance Technologies, which owns 1.54 million shares of Annaly Capital Management, Inc. (NYSE:NLY), down by 67% on the quarter.