Annaly Capital Management Inc (NLY) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Annaly Capital Management Inc (NYSE:NLY) from a hold rating to a buy rating in a research report report published on Friday, October 6th. They currently have $14.00 price target on the real estate investment trust’s stock.

According to Zacks, “Shares of Annaly have outperformed the industry year to date. 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, its 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, stiff competition, adverse macro-economic conditions and any rise in rate of interest may add to the company’s woes.”

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods restated a hold rating and set a $11.25 target price on shares of Annaly Capital Management in a report on Thursday, August 3rd. BidaskClub upgraded shares of Annaly Capital Management from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Annaly Capital Management from a buy rating to a strong-buy rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $11.69.

Shares of Annaly Capital Management (NYSE:NLY) opened at 12.2901 on Friday. Annaly Capital Management has a 52 week low of $9.83 and a 52 week high of $12.73. The company has a market capitalization of $13.37 billion, a PE ratio of 4.2482 and a beta of 0.28. The company has a 50-day moving average price of $12.32 and a 200-day moving average price of $12.02.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The firm had revenue of $315.15 million during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.29 earnings per share. Analysts predict that Annaly Capital Management will post $1.20 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.20 annualized dividend and a dividend yield of 9.79%. Annaly Capital Management’s dividend payout ratio (DPR) is presently 41.52%.

In related news, insider David L. Finkelstein bought 100,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was bought at an average price of $12.49 per share, for a total transaction of $1,249,000.00. Following the transaction, the insider now directly owns 300,000 shares in the company, valued at $3,747,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Francine J. Bovich bought 13,500 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $12.29 per share, with a total value of $165,915.00. Following the transaction, the director now owns 13,500 shares in the company, valued at $165,915. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 139,200 shares of company stock valued at $1,726,513. Insiders own 0.43% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NLY. Suntrust Banks Inc. purchased a new stake in Annaly Capital Management in the 1st quarter worth approximately $152,000. Comerica Bank lifted its position 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 buying an additional 12,743 shares in the last quarter. Sei Investments Co. lifted its position 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 buying an additional 76,123 shares in the last quarter. Ameriprise Financial Inc. lifted its position 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 buying an additional 301,232 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 buying an additional 480,114 shares in the last quarter. Institutional investors own 48.37% of the company’s stock.

Annaly Capital Management Company Profile

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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Analyst Recommendations for Annaly Capital Management (NYSE:NLY)

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