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

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

Several other equities analysts have also recently commented on NLY. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Wells Fargo & Company lowered their price objective on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. BTIG Research set a $24.00 price objective on Annaly Capital Management in a report on Wednesday, June 17th. JPMorgan Chase & Co. cut their price objective on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Annaly Capital Management has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Annaly Capital Management Trading Up 0.1%

Annaly Capital Management stock opened at $23.07 on Wednesday. The stock has a market cap of $16.91 billion, a P/E ratio of 5.78, a price-to-earnings-growth ratio of 6.02 and a beta of 1.16. The stock has a 50 day moving average of $22.28 and a 200-day moving average of $22.45. Annaly Capital Management has a 52 week low of $20.00 and a 52 week high of $24.52.

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

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently bought and sold shares of NLY. State of Michigan Retirement System grew its holdings in shares of Annaly Capital Management by 1.3% during the second quarter. State of Michigan Retirement System now owns 191,931 shares of the real estate investment trust’s stock valued at $4,292,000 after purchasing an additional 2,400 shares during the last quarter. Creekside Partners lifted its holdings in shares of Annaly Capital Management by 45.3% in the 2nd quarter. Creekside Partners now owns 65,070 shares of the real estate investment trust’s stock worth $1,455,000 after purchasing an additional 20,286 shares during the last quarter. Wealthstar Advisors LLC boosted its position in Annaly Capital Management by 17.0% during the 2nd quarter. Wealthstar Advisors LLC now owns 29,132 shares of the real estate investment trust’s stock valued at $651,000 after purchasing an additional 4,237 shares during the period. Left Brain Wealth Management LLC boosted its position in Annaly Capital Management by 19.7% during the 2nd quarter. Left Brain Wealth Management LLC now owns 82,416 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 13,538 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in Annaly Capital Management by 12.1% during the 2nd quarter. Pictet Asset Management Holding SA now owns 419,836 shares of the real estate investment trust’s stock worth $9,388,000 after buying an additional 45,402 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

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.