Annaly Capital Management Inc (NLY) Upgraded by Zacks Investment Research to Buy
Annaly Capital Management Inc (NYSE:NLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $14.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.09% from the company’s current price.
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.”
A number of other brokerages have also issued reports on NLY. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $11.25 target price on shares of Annaly Capital Management in a research report on Friday, June 30th. BidaskClub lowered Annaly Capital Management from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, ValuEngine raised 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, four have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Annaly Capital Management has a consensus rating of “Buy” and a consensus price target of $11.69.
Shares of Annaly Capital Management (NYSE:NLY) opened at 12.38 on Friday. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 4.28 and a beta of 0.28. Annaly Capital Management has a 1-year low of $9.83 and a 1-year high of $12.73. The company’s 50 day moving average price is $12.37 and its 200-day moving average price is $11.97.
Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. The company had revenue of $315.15 million for the quarter, compared to the consensus estimate of $424.18 million. Annaly Capital Management had a return on equity of 11.33% and a net margin of 121.84%. During the same quarter in the previous year, the business earned $0.29 EPS. Equities analysts expect that Annaly Capital Management will post $1.20 EPS for the current fiscal year.
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In related news, Director Donnell Segalas bought 17,700 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $12.14 per share, with a total value of $214,878.00. Following the completion of the transaction, the director now directly owns 84,150 shares of the company’s stock, valued at $1,021,581. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francine J. Bovich bought 13,500 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $165,915.00. Following the completion of the transaction, the director now directly owns 13,500 shares of the company’s stock, valued at $165,915. The disclosure for this purchase can be found here. Insiders have bought 139,200 shares of company stock worth $1,726,513 over the last ninety days. 0.43% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. North Star Investment Management Corp. grew its holdings in shares of Annaly Capital Management by 12.5% during the second quarter. North Star Investment Management Corp. now owns 9,235 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 1,028 shares in the last quarter. MCF Advisors LLC grew its holdings in shares of Annaly Capital Management by 2,903.2% during the second quarter. MCF Advisors LLC now owns 9,310 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 9,000 shares in the last quarter. Balentine LLC purchased a new position in shares of Annaly Capital Management during the second quarter valued at $114,000. Advisory Services Network LLC grew its holdings in shares of Annaly Capital Management by 9.0% during the second quarter. Advisory Services Network LLC now owns 9,757 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 806 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Annaly Capital Management during the first quarter valued at $116,000. 51.34% of the stock is currently owned by institutional investors.
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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