Annaly Capital Management (NLY) Downgraded by Zacks Investment Research to “Hold”

Annaly Capital Management (NYSE:NLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 3rd.

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 cut shares of Annaly Capital Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $12.21.

Shares of Annaly Capital Management (NYSE:NLY) traded up $0.07 on Wednesday, hitting $11.44. The stock had a trading volume of 7,324,700 shares, compared to its average volume of 8,250,000. The firm has a market cap of $13,270.00, a P/E ratio of 4.58, a P/E/G ratio of 2.16 and a beta of 0.22. 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 has a fifty-two week low of $10.08 and a fifty-two week high of $12.73.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $353.61 million for the quarter, compared to the consensus estimate of $361.67 million. Annaly Capital Management had a return on equity of 11.59% and a net margin of 104.56%. Annaly Capital Management’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. sell-side analysts anticipate that Annaly Capital Management will post 1.2 EPS for the current fiscal year.

In related news, Chairman Wellington Denahan purchased 125,280 shares of the stock in a transaction on Thursday, December 7th. The shares were purchased at an average cost of $11.97 per share, with a total value of $1,499,601.60. Following the acquisition, the chairman now directly owns 1,798,414 shares in the company, valued at $21,527,015.58. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kevin Keyes purchased 300,000 shares of the stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $11.12 per share, for a total transaction of $3,336,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 460,080 shares of company stock valued at $5,239,984. 0.43% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. APG Asset Management N.V. boosted its position in shares of Annaly Capital Management by 70.0% during the 3rd quarter. APG Asset Management N.V. now owns 26,906,060 shares of the real estate investment trust’s stock worth $327,985,000 after acquiring an additional 11,082,900 shares in the last quarter. Wells Fargo & Company MN boosted its position in Annaly Capital Management by 58.1% in the second quarter. Wells Fargo & Company MN now owns 13,314,572 shares of the real estate investment trust’s stock valued at $160,441,000 after buying an additional 4,891,048 shares in the last quarter. Janus Henderson Group PLC boosted its position in Annaly Capital Management by 136.1% in the third quarter. Janus Henderson Group PLC now owns 7,528,679 shares of the real estate investment trust’s stock valued at $91,774,000 after buying an additional 4,340,397 shares in the last quarter. Renaissance Technologies LLC boosted its position in Annaly Capital Management by 38.7% in the second quarter. Renaissance Technologies LLC now owns 14,405,486 shares of the real estate investment trust’s stock valued at $173,586,000 after buying an additional 4,020,960 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Annaly Capital Management by 35.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 11,358,849 shares of the real estate investment trust’s stock valued at $138,464,000 after buying an additional 2,982,700 shares in the last quarter. 54.50% of the stock is currently 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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