Zacks Research Upgrades Annaly Capital Management (NYSE:NLY) to “Strong-Buy”

Annaly Capital Management (NYSE:NLY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 17th. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Wells Fargo & Company decreased their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. JonesTrading reiterated a “buy” rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Trading Up 0.1%

Shares of NLY stock opened at $23.07 on Wednesday. The firm’s 50 day moving average is $22.28 and its 200 day moving average is $22.45. The stock has a market capitalization of $16.91 billion, a P/E ratio of 5.78, a PEG ratio of 6.02 and a beta of 1.16. Annaly Capital Management has a 12 month low of $20.00 and a 12 month high of $24.52.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC boosted its holdings in shares of Annaly Capital Management by 76.9% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 500 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Annaly Capital Management by 585.6% during the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 1,136 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Annaly Capital Management in the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in Annaly Capital Management in the 4th quarter worth approximately $31,000. Finally, TD Private Client Wealth LLC boosted its stake in Annaly Capital Management by 361.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,178 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Company Profile

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.