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

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

NLY has been the subject of several other research reports. Wells Fargo & Company decreased their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. BTIG Research set a $24.00 price objective on Annaly Capital Management in a research report on Wednesday, June 17th. JPMorgan Chase & Co. reduced 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. Piper Sandler boosted their target price on Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.33.

Annaly Capital Management Stock Performance

Shares of NLY opened at $22.66 on Monday. The company’s 50-day simple moving average is $22.89 and its 200-day simple moving average is $22.39. Annaly Capital Management has a 1 year low of $20.00 and a 1 year high of $24.52. The stock has a market capitalization of $17.08 billion, a PE ratio of 5.68, a P/E/G ratio of 5.99 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $1.82 billion during 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%. On average, sell-side analysts predict that Annaly Capital Management will post 3.09 earnings per share for the current year.

Institutional Investors Weigh In On Annaly Capital Management

Large investors have recently modified their holdings of the company. Corient Private Wealth LP lifted its position in shares of Annaly Capital Management by 26.3% during the 2nd quarter. Corient Private Wealth LP now owns 43,276 shares of the real estate investment trust’s stock worth $968,000 after purchasing an additional 9,008 shares during the last quarter. Groupe la Francaise purchased a new position in Annaly Capital Management in the second quarter valued at $559,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Annaly Capital Management in the second quarter valued at $5,545,000. California State Teachers Retirement System raised its stake in Annaly Capital Management by 1,703.7% in the second quarter. California State Teachers Retirement System now owns 29,412,858 shares of the real estate investment trust’s stock valued at $657,672,000 after buying an additional 27,782,188 shares in the last quarter. Finally, Greenland Capital Management LP boosted its position in shares of Annaly Capital Management by 30.0% during the 2nd quarter. Greenland Capital Management LP now owns 39,000 shares of the real estate investment trust’s stock worth $872,000 after acquiring an additional 9,000 shares in the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.

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.