Author's Note: PART 1 of this article analyzed Annaly Capital Management Inc.'s ( NYSE: NLY ) recent results and compared several of the company's metrics to seventeen mortgage real estate investment trust (mREIT) peers. PART 1 also showed how NLY's discount to book value ("BV") as of 3/31/2016 compared to the seventeen other mREIT peers. PART 1 helps lead to a better understanding of the topics and analysis that will be discussed in PART 2. The link to PART 1's analysis is provided below: Annaly Capital's BV, Dividend, And Valuation Compared To 17 mREIT Peers (Post Q1 2016 Earnings) - Part 1 This two-part article is a very detailed analysis comparing NLY to many mREIT peers. I am writing this two-part article due to the continued requests that such an analysis be specifically performed on the company at periodic intervals.