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

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) traded up $0.11 during trading on Wednesday, reaching $11.57. 6,440,200 shares of the company’s stock traded hands, compared to its average volume of 7,910,000. The firm has a market cap of $13,420.00, a price-to-earnings ratio of 4.63, a PEG ratio of 2.16 and a beta of 0.22. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.27. Annaly Capital Management has a 1 year low of $10.04 and a 1 year high of $12.73.

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.

ILLEGAL ACTIVITY WARNING: This story was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.com-unik.info/2018/01/07/annaly-capital-management-nly-downgraded-by-zacks-investment-research-to-hold.html.

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.

Get a free copy of the Zacks research report on Annaly Capital Management (NLY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Annaly Capital Management? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Annaly Capital Management and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit