Annaly Capital Management Inc (NLY) Lifted 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 note issued to investors on Friday. The brokerage presently has a $14.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.09% from the stock’s current price.
According to Zacks, “Shares of Annaly have outperformed the industry year to date. Notably, the company is making efforts to diversify its investment and funding options. Recently, the company announced a common stock offering of 65 million shares. Moreover, a strong financial position has enabled the company to pay a constant dividend for 15 consecutive quarters. Moving ahead, its prudent selection of assets, diversified investment and financing options, as well as exposure to high-quality mortgage-backed securities (MBSs) are anticipated to support bottom-line growth. However, stiff competition, adverse macro-economic conditions and any rise in rate of interest may add to the company’s woes.”
Several other analysts also recently issued reports on the stock. ValuEngine raised shares of Annaly Capital Management from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub raised shares of Annaly Capital Management from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $11.25 target price on shares of Annaly Capital Management in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $11.69.
Shares of Annaly Capital Management (NYSE NLY) opened at 12.38 on Friday. Annaly Capital Management has a 12-month low of $9.83 and a 12-month high of $12.73. The stock has a 50 day moving average price of $12.37 and a 200 day moving average price of $11.97. The firm has a market capitalization of $13.47 billion, a PE ratio of 4.28 and a beta of 0.28.
Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Annaly Capital Management had a net margin of 121.84% and a return on equity of 11.33%. The company had revenue of $315.15 million for the quarter, compared to the consensus estimate of $424.18 million. During the same period in the previous year, the business earned $0.29 EPS. Analysts predict that Annaly Capital Management will post $1.20 EPS for the current fiscal year.
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In related news, Director Donnell Segalas purchased 17,700 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $12.14 per share, with a total value of $214,878.00. Following the completion of the purchase, the director now owns 84,150 shares of the company’s stock, valued at approximately $1,021,581. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David L. Finkelstein purchased 100,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was bought at an average cost of $12.49 per share, for a total transaction of $1,249,000.00. Following the completion of the purchase, the insider now directly owns 300,000 shares of the company’s stock, valued at approximately $3,747,000. The disclosure for this purchase can be found here. Insiders bought 139,200 shares of company stock worth $1,726,513 over the last ninety days. 0.43% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NLY. Suntrust Banks Inc. acquired a new position in shares of Annaly Capital Management in the first quarter worth $152,000. Comerica Bank increased its stake in shares of Annaly Capital Management by 13.9% in the first quarter. Comerica Bank now owns 104,449 shares of the real estate investment trust’s stock worth $1,252,000 after acquiring an additional 12,743 shares during the last quarter. Sei Investments Co. increased its stake in shares of Annaly Capital Management by 1,803.0% in the first quarter. Sei Investments Co. now owns 80,345 shares of the real estate investment trust’s stock worth $893,000 after acquiring an additional 76,123 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Annaly Capital Management by 66.9% in the first quarter. Ameriprise Financial Inc. now owns 751,364 shares of the real estate investment trust’s stock worth $8,354,000 after acquiring an additional 301,232 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Annaly Capital Management by 55.1% in the first quarter. JPMorgan Chase & Co. now owns 1,351,587 shares of the real estate investment trust’s stock worth $15,016,000 after acquiring an additional 480,114 shares during the last quarter. 51.34% of the stock is currently owned by institutional investors and hedge funds.
Annaly Capital Management Company Profile
Annaly Capital Management, Inc is a mortgage real estate investment trust (REIT). The Company owns a portfolio of real estate related investments. Its investment groups primarily consist of Agency, which invests primarily in various types of Agency mortgage-backed securities and related derivatives to hedge these investments; Residential credit, which invests primarily in non-Agency mortgage-backed assets within securitized products and residential mortgage loan markets; Commercial real estate, which originates and invests in commercial mortgage loans, securities, and other commercial real estate investments, and Middle market, which provides customized debt financing to middle-market businesses.
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