Annaly Capital Management (NYSE:NLY) Stock Rating Lowered by Zacks Research

Annaly Capital Management (NYSE:NLY) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. BTIG Research set a $24.00 price objective on Annaly Capital Management in a research report on Wednesday, June 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Wells Fargo & Company reduced their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Finally, Piper Sandler boosted their price objective on shares of Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Stock Performance

NYSE NLY opened at $22.66 on Monday. The business’s 50 day moving average price is $22.89 and its 200-day moving average price is $22.39. Annaly Capital Management has a fifty-two week low of $20.00 and a fifty-two week high of $24.52. The company has a market cap of $17.08 billion, a P/E ratio of 5.68, a P/E/G ratio of 5.99 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $639.80 million. As a group, equities analysts predict that Annaly Capital Management will post 3.09 EPS for the current year.

Institutional Trading of Annaly Capital Management

Hedge funds have recently added to or reduced their stakes in the business. HUB Investment Partners LLC increased its position in Annaly Capital Management by 3.3% during the 2nd quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 462 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of Annaly Capital Management by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock valued at $548,000 after purchasing an additional 463 shares in the last quarter. Quadcap Wealth Management LLC increased its holdings in Annaly Capital Management by 2.3% during the first quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock valued at $463,000 after buying an additional 495 shares during the period. Fourth Dimension Wealth LLC raised its stake in Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 500 shares in the last quarter. Finally, GWN Securities Inc. lifted its holdings in Annaly Capital Management by 5.0% during the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 514 shares during the period. 51.56% of the stock is owned by hedge funds and other institutional investors.

About Annaly Capital Management

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.