Annaly Capital Management Inc. (NLY) Raised to “Buy” at Zacks Investment Research
Annaly Capital Management Inc. (NYSE:NLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $11.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 9.89% from the stock’s current price.
According to Zacks, “In July Annaly closed the acquisition of Winston Salem, NC–based mREIT, Hatteras Financial Corp. for $1.5 billion. This has diversified the investment and financing options for the company. Further, prudent selection of assets, exposure to high-quality MBS, expansion of commercial real estate investments and solid financial position keep its growth momentum going. However, competition with several other players, adverse macro-economic conditions and interest rate issues add to the company’s problems.”
Several other equities research analysts have also recently weighed in on NLY. JPMorgan Chase & Co. restated a “hold” rating and set a $11.00 target price on shares of Annaly Capital Management in a research note on Friday, August 5th. Compass Point cut Annaly Capital Management from a “neutral” rating to a “sell” rating and set a $10.50 target price for the company. in a research note on Wednesday, June 15th. Credit Suisse Group AG reiterated a “hold” rating and issued a $11.50 price target on shares of Annaly Capital Management in a research note on Friday, September 9th. Keefe, Bruyette & Woods increased their price target on Annaly Capital Management from $11.00 to $11.50 and gave the company a “market perform” rating in a research note on Monday, August 8th. Finally, Deutsche Bank AG increased their price target on Annaly Capital Management from $10.50 to $11.00 and gave the company a “hold” rating in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Annaly Capital Management presently has an average rating of “Hold” and a consensus target price of $11.00.
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Annaly Capital Management (NYSE:NLY) traded up 1.30% on Wednesday, reaching $10.14. The company’s stock had a trading volume of 3,074,329 shares. The stock’s 50 day moving average price is $10.58 and its 200 day moving average price is $10.69. The company’s market cap is $10.09 billion. Annaly Capital Management has a 12 month low of $8.25 and a 12 month high of $11.29.
Annaly Capital Management (NYSE:NLY) last released its earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. Annaly Capital Management had a positive return on equity of 10.85% and a negative net margin of 68.57%. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities research analysts forecast that Annaly Capital Management will post $1.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.2641 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.06 dividend on an annualized basis and a yield of 10.55%. Annaly Capital Management’s payout ratio is -83.46%.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Annaly Capital Management by 1.6% in the second quarter. Vanguard Group Inc. now owns 67,023,200 shares of the company’s stock worth $741,948,000 after buying an additional 1,048,137 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Annaly Capital Management by 17.1% in the second quarter. BlackRock Fund Advisors now owns 45,889,718 shares of the company’s stock worth $507,999,000 after buying an additional 6,714,139 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Annaly Capital Management by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 25,902,569 shares of the company’s stock worth $265,760,000 after buying an additional 136,082 shares during the last quarter. State Street Corp increased its stake in shares of Annaly Capital Management by 0.5% in the first quarter. State Street Corp now owns 24,987,256 shares of the company’s stock worth $256,371,000 after buying an additional 131,340 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Annaly Capital Management by 30.6% in the fourth quarter. LSV Asset Management now owns 17,832,929 shares of the company’s stock worth $167,272,000 after buying an additional 4,176,777 shares during the last quarter. Institutional investors and hedge funds own 54.19% of the company’s stock.
Annaly Capital Management Company Profile
Annaly Capital Management, Inc (Annaly) is a mortgage real estate investment trust (REIT). The Company’s principal business objectives are to generate net income for distribution to its stockholders from its investments and capital preservation. Its portfolio also includes residential credit investments, such as credit risk transfer securities and non-agency mortgage-backed securities.
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