Annaly Capital Management (NYSE:NLY) Lowered to Hold at StockNews.com

StockNews.com cut shares of Annaly Capital Management (NYSE:NLY) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities research analysts also recently issued research reports about the company. Janney Montgomery Scott initiated coverage on Annaly Capital Management in a report on Thursday, June 6th. They issued a buy rating and a $21.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Annaly Capital Management from $20.00 to $21.00 and gave the stock an overweight rating in a report on Tuesday, July 16th. Compass Point began coverage on Annaly Capital Management in a report on Tuesday, April 2nd. They set a buy rating and a $22.00 target price for the company. Jonestrading reaffirmed a buy rating and set a $21.00 target price on shares of Annaly Capital Management in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $21.50 target price on shares of Annaly Capital Management in a report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $21.06.

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $19.89 on Thursday. The company has a market cap of $9.95 billion, a PE ratio of -20.23 and a beta of 1.54. The business has a 50-day simple moving average of $19.76 and a two-hundred day simple moving average of $19.41. Annaly Capital Management has a fifty-two week low of $14.52 and a fifty-two week high of $21.07.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $318.00 million. Annaly Capital Management had a positive return on equity of 15.28% and a negative net margin of 12.02%. During the same quarter last year, the company earned $0.72 earnings per share. On average, sell-side analysts predict that Annaly Capital Management will post 2.63 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 13.07%. The ex-dividend date is Friday, June 28th. Annaly Capital Management’s payout ratio is presently -268.04%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NLY. Norges Bank acquired a new position in Annaly Capital Management in the fourth quarter valued at approximately $110,244,000. Balyasny Asset Management L.P. lifted its holdings in Annaly Capital Management by 159.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,118,940 shares of the real estate investment trust’s stock valued at $118,524,000 after acquiring an additional 3,762,652 shares during the period. Algebris UK Ltd increased its position in shares of Annaly Capital Management by 195.9% in the first quarter. Algebris UK Ltd now owns 4,034,821 shares of the real estate investment trust’s stock valued at $87,532,000 after buying an additional 2,671,236 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Annaly Capital Management by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 49,300,019 shares of the real estate investment trust’s stock valued at $954,941,000 after buying an additional 1,619,729 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Annaly Capital Management by 1,505.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,676,931 shares of the real estate investment trust’s stock valued at $32,482,000 after buying an additional 1,572,487 shares in the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.