Zacks Investment Research cut shares of Annaly Capital Management Inc (NYSE:NLY) from a buy rating to a hold rating in a report published on Monday.
According to Zacks, “Shares of Annaly have outperformed the industry year to date. However, the stock has seen the Zacks Consensus Estimate for 2017 earnings being revised downward in a month’s time.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, Annaly’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. 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.”
A number of other research firms also recently weighed in on NLY. Keefe, Bruyette & Woods restated a hold rating and set a $11.25 price target on shares of Annaly Capital Management in a report on Friday, June 30th. BidaskClub downgraded shares of Annaly Capital Management from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, ValuEngine upgraded shares of Annaly Capital Management from a buy rating to a strong-buy rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Annaly Capital Management presently has an average rating of Buy and an average target price of $11.69.
Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $315.15 million for the quarter, compared to the consensus estimate of $424.18 million. Annaly Capital Management had a net margin of 121.84% and a return on equity of 11.33%. During the same quarter last year, the firm earned $0.29 EPS. Analysts expect that Annaly Capital Management will post $1.20 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.86%. Annaly Capital Management’s dividend payout ratio is currently 41.52%.
In other news, Director Donnell Segalas bought 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $12.09 per share, for a total transaction of $96,720.00. Following the acquisition, the director now directly owns 84,150 shares of the company’s stock, valued at approximately $1,017,373.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Francine J. Bovich bought 13,500 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $12.29 per share, for a total transaction of $165,915.00. Following the acquisition, the director now directly owns 13,500 shares in the company, valued at $165,915. The disclosure for this purchase can be found here. Insiders purchased a total of 139,200 shares of company stock worth $1,726,513 in the last quarter. Insiders own 0.43% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NLY. Comerica Bank raised its holdings in Annaly Capital Management by 13.9% in the 1st 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 period. Sei Investments Co. raised its holdings in Annaly Capital Management by 1,803.0% in the 1st 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 period. Ameriprise Financial Inc. raised its holdings in Annaly Capital Management by 66.9% in the 1st 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 period. JPMorgan Chase & Co. raised its holdings in Annaly Capital Management by 55.1% in the 1st 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 period. Finally, Schroder Investment Management Group bought a new position in Annaly Capital Management in the 1st quarter worth $496,000. Hedge funds and other institutional investors own 51.34% of the company’s stock.
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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