Annaly Capital Management (NYSE:NLY) Lowered to Hold at Zacks Investment Research
Annaly Capital Management (NYSE:NLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, January 3rd.
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 lowered Annaly Capital Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 26th. Four investment 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 company. Annaly Capital Management currently has an average rating of “Buy” and a consensus target price of $12.21.
Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Annaly Capital Management had a return on equity of 11.59% and a net margin of 104.56%. The business had revenue of $353.61 million for the quarter, compared to analyst estimates of $361.67 million. During the same quarter last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. analysts forecast that Annaly Capital Management will post 1.2 EPS for the current year.
In related news, CEO Kevin Keyes acquired 300,000 shares of Annaly Capital Management stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $11.12 per share, for a total transaction of $3,336,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donnell Segalas acquired 9,800 shares of Annaly Capital Management stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $11.34 per share, with a total value of $111,132.00. Following the transaction, the director now directly owns 102,450 shares in the company, valued at $1,161,783. The disclosure for this purchase can be found here. In the last quarter, insiders bought 460,080 shares of company stock valued at $5,239,984. Insiders own 0.43% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Annaly Capital Management by 2.3% during the second quarter. Vanguard Group Inc. now owns 84,474,609 shares of the real estate investment trust’s stock valued at $1,017,920,000 after buying an additional 1,881,971 shares during the period. APG Asset Management N.V. raised its position in Annaly Capital Management by 21.1% during the fourth quarter. APG Asset Management N.V. now owns 32,577,760 shares of the real estate investment trust’s stock valued at $322,576,000 after buying an additional 5,671,700 shares during the period. State Street Corp raised its position in Annaly Capital Management by 1.0% during the second quarter. State Street Corp now owns 28,075,020 shares of the real estate investment trust’s stock valued at $338,303,000 after buying an additional 291,014 shares during the period. FMR LLC raised its position in Annaly Capital Management by 4.3% during the second quarter. FMR LLC now owns 21,493,874 shares of the real estate investment trust’s stock valued at $259,001,000 after buying an additional 878,306 shares during the period. Finally, LSV Asset Management raised its position in Annaly Capital Management by 0.4% during the second quarter. LSV Asset Management now owns 19,792,129 shares of the real estate investment trust’s stock valued at $238,495,000 after buying an additional 78,700 shares during the period. 54.53% 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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