Zacks Investment Research upgraded shares of Annaly Capital Management, Inc. (NYSE:NLY) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The brokerage currently has $11.00 target price on the stock.

According to Zacks, “In July Annaly closed the acquisition of Winston Salem, NC–based mREIT, Hatteras Financial Corp. for $1.5 billion. This has diversified the investment and financing options for the company. Further, prudent selection of assets, exposure to high-quality MBS, expansion of commercial real estate investments and solid financial position keep its growth momentum going. However, competition with several other players, adverse macro-economic conditions and interest rate issues add to the company’s problems.”

NLY has been the topic of several other reports. Deutsche Bank AG boosted their price objective on shares of Annaly Capital Management from $10.50 to $11.00 and gave the company a hold rating in a research report on Friday, August 12th. Credit Suisse Group AG reaffirmed a hold rating and issued a $11.50 price objective on shares of Annaly Capital Management in a research report on Friday, September 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Annaly Capital Management from $11.00 to $11.50 and gave the company a market perform rating in a research report on Monday, August 8th. JPMorgan Chase & Co. reaffirmed a hold rating and issued a $11.00 price objective on shares of Annaly Capital Management in a research report on Friday, August 5th. Finally, Compass Point cut shares of Annaly Capital Management from a neutral rating to a sell rating and set a $10.50 price objective on the stock. in a research report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Annaly Capital Management presently has an average rating of Hold and an average target price of $11.00.

Analyst Recommendations for Annaly Capital Management (NYSE:NLY)

Annaly Capital Management (NYSE:NLY) traded up 0.842% during trading on Wednesday, reaching $10.185. 1,246,766 shares of the company’s stock traded hands. The firm’s market cap is $10.14 billion. The firm has a 50 day moving average price of $10.56 and a 200-day moving average price of $10.68. Annaly Capital Management has a 12 month low of $8.25 and a 12 month high of $11.29.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. Annaly Capital Management had a negative net margin of 68.57% and a positive return on equity of 10.85%. During the same period in the previous year, the company posted $0.41 EPS. On average, analysts forecast that Annaly Capital Management will post $1.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.2641 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 10.46%. Annaly Capital Management’s payout ratio is presently -83.46%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in shares of Annaly Capital Management during the second quarter worth about $101,000. Balentine LLC purchased a new stake in Annaly Capital Management during the second quarter valued at about $105,000. Penserra Capital Management LLC raised its stake in Annaly Capital Management by 1.9% in the second quarter. Penserra Capital Management LLC now owns 10,074 shares of the company’s stock valued at $112,000 after buying an additional 189 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in Annaly Capital Management by 80.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 10,423 shares of the company’s stock valued at $115,000 after buying an additional 4,636 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. purchased a new stake in Annaly Capital Management during the second quarter valued at about $116,000. Hedge funds and other institutional investors own 54.19% of the company’s stock.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc (Annaly) is a mortgage real estate investment trust (REIT). The Company’s principal business objectives are to generate net income for distribution to its stockholders from its investments and capital preservation. Its portfolio also includes residential credit investments, such as credit risk transfer securities and non-agency mortgage-backed securities.

5 Day Chart for NYSE:NLY

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