Annaly Capital Management (NYSE:NLY) Rating Increased to Strong-Buy at Zacks Research

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

Other research analysts have also issued reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. BTIG Research set a $24.00 price target on Annaly Capital Management in a report on Wednesday, June 17th. JPMorgan Chase & Co. reduced their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Finally, Wells Fargo & Company dropped their price objective on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Price Performance

Shares of NLY stock opened at $23.07 on Wednesday. The company has a fifty day moving average price of $22.28 and a two-hundred day moving average price of $22.45. Annaly Capital Management has a one year low of $20.00 and a one year high of $24.52. The stock has a market cap of $16.91 billion, a P/E ratio of 5.78, a P/E/G ratio of 6.02 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations 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 research analysts anticipate that Annaly Capital Management will post 3.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

Several institutional investors and hedge funds have recently modified their holdings of NLY. Koshinski Asset Management Inc. increased its stake in shares of Annaly Capital Management by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 463 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in shares of Annaly Capital Management by 2.3% in the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after purchasing an additional 495 shares during the period. Fourth Dimension Wealth LLC lifted its stake in Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. GWN Securities Inc. lifted its stake in Annaly Capital Management by 5.0% in the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 514 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Annaly Capital Management by 1.4% during the third quarter. Quadrant Capital Group LLC now owns 39,282 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 524 shares during the period. 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.