Zacks Investment Research upgraded shares of Annaly Capital Management, Inc. (NYSE:NLY) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $11.00 price objective on the stock.
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.”
NLY has been the topic of several other research reports. Deutsche Bank AG lifted their price objective on shares of Annaly Capital Management from $10.50 to $11.00 and gave the stock a hold rating in a research report on Friday, August 12th. Credit Suisse Group AG reissued a hold rating and issued a $11.50 price target on shares of Annaly Capital Management in a research report on Friday, September 9th. Keefe, Bruyette & Woods boosted their price target on shares of Annaly Capital Management from $11.00 to $11.50 and gave the company a market perform rating in a research report on Monday, August 8th. JPMorgan Chase & Co. reissued a hold rating and issued a $11.00 price target on shares of Annaly Capital Management in a research report on Friday, August 5th. Finally, Compass Point lowered shares of Annaly Capital Management from a neutral rating to a sell rating and set a $10.50 price target on the stock. in a research report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $11.00.
Annaly Capital Management (NYSE:NLY) traded up 0.842% during mid-day trading on Wednesday, hitting $10.185. 1,246,766 shares of the company traded hands. The firm’s market capitalization is $10.14 billion. Annaly Capital Management has a one year low of $8.25 and a one year high of $11.29. The firm has a 50 day moving average of $10.56 and a 200 day moving average of $10.68.
Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. Annaly Capital Management had a negative net margin of 68.57% and a positive return on equity of 10.85%. During the same period last year, the business earned $0.41 EPS. Equities research analysts expect that Annaly Capital Management will post $1.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a dividend of $0.2641 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.06 annualized dividend and a yield of 10.46%. Annaly Capital Management’s dividend payout ratio is currently -83.46%.
A number of institutional investors have recently added to or reduced their stakes in NLY. Acrospire Investment Management LLC bought a new position in Annaly Capital Management during the second quarter worth approximately $101,000. Balentine LLC bought a new position in Annaly Capital Management during the second quarter worth approximately $105,000. Penserra Capital Management LLC boosted its position in Annaly Capital Management by 1.9% in the second quarter. Penserra Capital Management LLC now owns 10,074 shares of the company’s stock worth $112,000 after buying an additional 189 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in Annaly Capital Management by 80.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 10,423 shares of the company’s stock worth $115,000 after buying an additional 4,636 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. bought a new position in Annaly Capital Management during the second quarter worth approximately $116,000. 54.19% of the stock is owned by institutional investors and hedge funds.
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.