Annaly Capital Management (NYSE:NLY) Downgraded to “Hold” Rating by Zacks Research

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

NLY has been the topic of a number of other research reports. Royal Bank Of Canada lowered their price target on Annaly Capital Management from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 27th. Jones Trading reaffirmed a “buy” rating and set a $21.00 price objective on shares of Annaly Capital Management in a report on Thursday, July 24th. Piper Sandler cut their target price on shares of Annaly Capital Management from $21.50 to $21.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. UBS Group restated a “neutral” rating and set a $20.00 price target (up previously from $18.00) on shares of Annaly Capital Management in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on Annaly Capital Management from $20.50 to $21.50 and gave the stock an “outperform” rating in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.72.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $20.9050 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 4.92 and a beta of 1.20. The firm’s 50 day simple moving average is $19.96 and its 200-day simple moving average is $19.95. Annaly Capital Management has a 12 month low of $16.59 and a 12 month high of $22.11.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. The firm had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $237.00 million. Analysts expect that Annaly Capital Management will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors have recently added to or reduced their stakes in NLY. Inlight Wealth Management LLC acquired a new position in Annaly Capital Management during the first quarter worth $25,000. Financial Gravity Companies Inc. acquired a new position in shares of Annaly Capital Management during the 2nd quarter valued at about $25,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Annaly Capital Management in the first quarter valued at about $28,000. Twin Tree Management LP acquired a new stake in Annaly Capital Management during the first quarter worth about $29,000. Finally, Delos Wealth Advisors LLC purchased a new position in Annaly Capital Management during the second quarter worth about $28,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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.