Annaly Capital Management (NYSE:NLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Shares of Annaly have outperformed the industry in the past year. Moreover, the Zacks Consensus Estimate for fourth-quarter 2017 earnings remained unchanged in a month’s time. Going forward, the company’s 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. Also, a strong financial position has enabled the company to maintain a consistent dividend payout for 17 consecutive quarters. However, the company faces stiff competition from other financial institutions. Further, adverse macro-economic conditions and any rise in rate of interest may add to the company’s woes.”

Separately, ValuEngine lowered shares of Annaly Capital Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Annaly Capital Management currently has a consensus rating of “Buy” and a consensus target price of $12.21.

Shares of Annaly Capital Management (NYSE:NLY) traded down $0.20 on Wednesday, reaching $11.47. 6,710,000 shares of the company traded hands, compared to its average volume of 8,030,000. The company has a market cap of $13,290.00, a P/E ratio of 4.59, a PEG ratio of 2.22 and a beta of 0.22. Annaly Capital Management has a 12-month low of $9.95 and a 12-month high of $12.73. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.27.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The company had revenue of $353.61 million for the quarter, compared to analyst estimates of $361.67 million. Annaly Capital Management had a net margin of 104.56% and a return on equity of 11.59%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. equities research analysts forecast that Annaly Capital Management will post 1.2 EPS for the current year.

In other news, Chairman Wellington Denahan purchased 125,280 shares of Annaly Capital Management stock in a transaction on Thursday, December 7th. The shares were purchased at an average cost of $11.97 per share, for a total transaction of $1,499,601.60. Following the completion of the transaction, the chairman now directly owns 1,798,414 shares in the company, valued at $21,527,015.58. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn Votek purchased 25,000 shares of Annaly Capital Management stock in a transaction on Friday, December 1st. The stock was purchased at an average price of $11.73 per share, for a total transaction of $293,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 460,080 shares of company stock worth $5,239,984. Company insiders own 0.43% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. bought a new position in shares of Annaly Capital Management in the third quarter worth about $100,000. Balentine LLC bought a new position in shares of Annaly Capital Management in the second quarter worth about $114,000. Advisory Services Network LLC raised its stake in shares of Annaly Capital Management by 9.0% in the second quarter. Advisory Services Network LLC now owns 9,757 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 806 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in shares of Annaly Capital Management in the third quarter worth about $122,000. Finally, Signet Financial Management LLC bought a new position in shares of Annaly Capital Management in the second quarter worth about $126,000. 54.50% of the stock is owned by institutional investors.

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About Annaly Capital Management

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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