Zacks Investment Research lowered shares of Annaly Capital Management (NYSE:NLY) from a buy rating to a hold rating in a research note published on Wednesday morning.
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 downgraded 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 assigned a buy rating and one has issued a strong buy rating to the stock. Annaly Capital Management has a consensus rating of Buy and an average price target of $12.21.
Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm 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 company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. research analysts expect that Annaly Capital Management will post 1.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.37%. The ex-dividend date is Thursday, December 28th. Annaly Capital Management’s dividend payout ratio is 48.00%.
In other Annaly Capital Management news, Chairman Wellington Denahan bought 125,280 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was bought at an average cost of $11.97 per share, with a total value of $1,499,601.60. Following the completion of the transaction, the chairman now directly owns 1,798,414 shares of the company’s stock, valued at approximately $21,527,015.58. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kevin Keyes acquired 300,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average cost of $11.12 per share, with a total value of $3,336,000.00. The disclosure for this purchase can be found here. Insiders acquired 460,080 shares of company stock valued at $5,239,984 over the last three months. Insiders own 0.43% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NLY. Salem Investment Counselors Inc. bought a new stake in shares of Annaly Capital Management during the 3rd quarter worth $100,000. Balentine LLC acquired a new position in Annaly Capital Management during the 2nd quarter valued at $114,000. Advisory Services Network LLC raised its stake in Annaly Capital Management by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 9,757 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 806 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new position in Annaly Capital Management during the 3rd quarter valued at $122,000. Finally, Signet Financial Management LLC acquired a new position in Annaly Capital Management during the 2nd quarter valued at $126,000. 54.50% of the stock is owned by institutional investors and hedge funds.
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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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