Zacks Investment Research cut shares of ANNALY CAP MGMT/SH (NYSE:NLY) from a hold rating to a sell rating in a report issued on Friday morning.

According to Zacks, “Shares of Annaly have underperformed the industry in the past year. Further, the trend in estimate revisions for 2018 earnings does not indicate a favorable outlook for the company. While Annaly aims at investment in more credit-focused asset classes, any adversity in the macroeconomic condition is likely to result in a widespread de-leveraging of the financial markets, forcing Annaly to sell its mortgage assets at unattractive prices. Also, dependence on the broader financial market environment makes the company’s performance susceptible to economic downturns and geopolitical doldrums. Nonetheless, prudent selection of assets, investment in more credit-focused asset classes, as well as exposure to high-quality mortgage-backed securities (MBSs) are anticipated to boost the company’s bottom-line growth.”

NLY has been the subject of several other reports. Keefe, Bruyette & Woods upgraded ANNALY CAP MGMT/SH from a market perform rating to an outperform rating and lifted their price objective for the stock from $10.00 to $10.50 in a research report on Sunday, January 13th. Barclays raised shares of ANNALY CAP MGMT/SH from an equal weight rating to an overweight rating and upped their price target for the stock from $10.00 to $11.00 in a research report on Friday, December 14th. JPMorgan Chase & Co. raised shares of ANNALY CAP MGMT/SH from a neutral rating to an overweight rating and upped their price target for the stock from $10.00 to $10.50 in a research report on Wednesday, January 16th. Finally, TheStreet cut shares of ANNALY CAP MGMT/SH from a b rating to a c+ rating in a research report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. ANNALY CAP MGMT/SH currently has a consensus rating of Hold and an average price target of $10.80.

Shares of NLY opened at $10.42 on Friday. ANNALY CAP MGMT/SH has a twelve month low of $9.57 and a twelve month high of $10.78. The company has a market capitalization of $14.59 billion, a price-to-earnings ratio of 8.54 and a beta of 0.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Monday, December 31st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 11.52%. This is a boost from ANNALY CAP MGMT/SH’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, December 28th. ANNALY CAP MGMT/SH’s dividend payout ratio (DPR) is presently 98.36%.

A number of large investors have recently modified their holdings of NLY. Csenge Advisory Group purchased a new stake in ANNALY CAP MGMT/SH in the 3rd quarter worth approximately $29,000. CWM LLC lifted its position in ANNALY CAP MGMT/SH by 55.9% in the 4th quarter. CWM LLC now owns 3,089 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,108 shares in the last quarter. Hanson & Doremus Investment Management purchased a new stake in ANNALY CAP MGMT/SH in the 4th quarter worth approximately $35,000. Parallel Advisors LLC lifted its position in ANNALY CAP MGMT/SH by 193.0% in the 4th quarter. Parallel Advisors LLC now owns 3,575 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 2,355 shares in the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in ANNALY CAP MGMT/SH in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 52.16% of the company’s stock.

ANNALY CAP MGMT/SH Company Profile

Annaly Capital Management, Inc, a diversified capital manager, invests in and finances residential and commercial assets. The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments.

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