Annaly Capital Management (NYSE:NLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Shares of Annaly have outperformed the industry in the past three months. Moreover, the Zacks Consensus Estimate for first-quarter 2018 earnings remained unchanged in a month’s time. 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 18 consecutive quarters. However, the company faces stiff competition from other financial institutions. Further, adverse macro-economic conditions and any rise in rate of interest might add to the company’s woes.”
A number of other analysts have also recently weighed in on the company. Bank of America raised Annaly Capital Management from an “underperform” rating to a “neutral” rating in a research report on Thursday, February 1st. Compass Point raised Annaly Capital Management from a “sell” rating to a “neutral” rating in a research report on Tuesday, February 13th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Annaly Capital Management in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.63.
Shares of NYSE:NLY traded down $0.04 on Tuesday, reaching $10.26. The company had a trading volume of 2,435,560 shares, compared to its average volume of 8,501,521. Annaly Capital Management has a 52-week low of $10.00 and a 52-week high of $12.73. The company has a market capitalization of $11,886.14, a PE ratio of 8.41, a P/E/G ratio of 7.18 and a beta of 0.02. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.23.
Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Annaly Capital Management had a return on equity of 11.66% and a net margin of 72.18%. The business had revenue of $426.71 million for the quarter, compared to the consensus estimate of $370.80 million. During the same period last year, the business posted $0.30 EPS. The business’s revenue was down 31.6% compared to the same quarter last year. research analysts predict that Annaly Capital Management will post 1.17 EPS for the current year.
In other Annaly Capital Management news, insider Anthony C. Green acquired 23,250 shares of the stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average price of $10.42 per share, with a total value of $242,265.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.43% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Barrett Asset Management LLC acquired a new stake in Annaly Capital Management during the 4th quarter worth about $107,000. Advisor Partners LLC acquired a new stake in Annaly Capital Management during the 4th quarter worth about $122,000. Garrison Bradford & Associates Inc. acquired a new stake in Annaly Capital Management during the 4th quarter worth about $125,000. Advisors Capital Management LLC acquired a new stake in Annaly Capital Management during the 4th quarter worth about $133,000. Finally, Smith Moore & CO. acquired a new stake in Annaly Capital Management during the 4th quarter worth about $135,000. 60.02% of the stock is owned by hedge funds and other institutional investors.
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About Annaly Capital Management
Annaly Capital Management, Inc, a diversified capital manager, invests in and finances residential and commercial assets. The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments.
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