Zacks Investment Research cut shares of Annaly Capital Management (NYSE:NLY) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Shares of Annaly have underperformed the industry in the past three months. While the company aims at investment in more credit-focused asset classes, any adversity in the macro-economic condition is likely to result in a widespread de-leveraging of the financial markets, forcing Annaly to sell its mortgage assets at unattractive prices. Further, Annaly’s performance also depends on the broader financial market environment. This makes it susceptible to economic downturns and geopolitical doldrums. In addition, stiff competition from financial institutions and other market players adversely affects the pricing of its securities. Any rise in rate of interest may add to the company’s woes.”
A number of other equities analysts also recently issued reports on NLY. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Annaly Capital Management in a report on Friday, February 16th. Compass Point raised Annaly Capital Management from a sell rating to a neutral rating in a report on Tuesday, February 13th. Finally, Bank of America raised Annaly Capital Management from an underperform rating to a neutral rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $12.63.
NLY stock opened at $10.25 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market cap of $11,886.14, a P/E ratio of 8.40, a PEG ratio of 7.18 and a beta of 0.02. Annaly Capital Management has a fifty-two week low of $10.00 and a fifty-two week high of $12.73.
Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $426.71 million during the quarter, compared to the consensus estimate of $370.80 million. Annaly Capital Management had a return on equity of 11.66% and a net margin of 72.18%. The firm’s quarterly revenue was down 31.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. analysts anticipate that Annaly Capital Management will post 1.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 11.71%. The ex-dividend date of this dividend is Wednesday, March 28th. Annaly Capital Management’s dividend payout ratio (DPR) is 98.36%.
In other Annaly Capital Management news, insider Anthony C. Green purchased 23,250 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $10.42 per share, with a total value of $242,265.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.43% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Daiwa SB Investments Ltd. boosted its holdings in shares of Annaly Capital Management by 42.8% in the fourth quarter. Daiwa SB Investments Ltd. now owns 16,840 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 5,050 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Annaly Capital Management by 3.7% in the fourth quarter. Mackenzie Financial Corp now owns 160,198 shares of the real estate investment trust’s stock valued at $1,905,000 after acquiring an additional 5,647 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Annaly Capital Management by 51.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 16,787 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 5,720 shares during the period. Westpac Banking Corp boosted its holdings in shares of Annaly Capital Management by 9.6% in the fourth quarter. Westpac Banking Corp now owns 69,657 shares of the real estate investment trust’s stock valued at $828,000 after acquiring an additional 6,077 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Annaly Capital Management by 30.3% in the fourth quarter. Brown Advisory Inc. now owns 27,540 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 6,400 shares during the period. 60.03% of the stock is owned by institutional investors and hedge funds.
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Annaly Capital Management Company Profile
Annaly Capital Management, Inc, a diversified capital manager, invests in and finances residential and commercial assets. The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments.
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