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Annaly Capital Management (NYSE:NLY) was upgraded by analysts at Portales Partners from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Analyst Ratings News reports.

Shares of Annaly Capital Management (NYSE:NLY) traded down 2.87% during mid-day trading on Thursday, hitting $11.50. 19,147,732 shares of the company’s stock traded hands. Annaly Capital Management has a 1-year low of $9.66 and a 1-year high of $15.30. The stock has a 50-day moving average of $11.32 and a 200-day moving average of $10.84. The company has a market cap of $10.896 billion and a P/E ratio of 3.16. Annaly Capital Management also was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 19,912,875 shares, a decline of 20.5% from the March 31st total of 25,037,840 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 10,228,240 shares, the short-interest ratio is presently 1.9 days.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.05. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, analysts predict that Annaly Capital Management will post $1.18 earnings per share for the current fiscal year.

NLY has been the subject of a number of other recent research reports. Analysts at Bank of America reiterated an “underperform” rating on shares of Annaly Capital Management in a research note on Thursday. They now have a $10.00 price target on the stock, up previously from $8.50. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Annaly Capital Management in a research note on Wednesday, April 16th. They now have a $11.50 price target on the stock. Finally, analysts at Compass Point downgraded shares of Annaly Capital Management from a “buy” rating to a “neutral” rating in a research note on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.88.

Annaly Capital Management, Inc (NYSE:NLY) owns, manage, and finance a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), Agency callable debentures, and other securities representing interests in or obligations backed by pools of mortgage loans.

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