ANNALY CAP MGMT/SH (NYSE:NLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports. They currently have a $8.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target indicates a potential upside of 7.96% from the company’s current price.
According to Zacks, “Annaly’s impressive results for second-quarter 2020 were supported by the expansion in net interest spread and higher yields on assets. Moreover, book value per share (BVPS) improved 12% sequentially. Notably, the stability in the Agency mortgage backed securities (MBS) market and low borrowing rates are positives, which will likely drive Annaly’s performance in the upcoming period. Moreover, prudent steps taken in the early market recovery phase has positioned the company’s investment portfolio well to capitalize on the opportunities and deliver compelling returns. Further, the company bolstered its liquidity and reduced leverage. Annaly’s shares have witnessed a narrower decline than its industry in the past year. Yet, faster prepayment speed exposes it to reinvestment risk. A highly competitive market also remains woes.”
Several other equities analysts have also recently commented on NLY. UBS Group dropped their target price on shares of ANNALY CAP MGMT/SH from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Deutsche Bank boosted their price objective on ANNALY CAP MGMT/SH from $7.75 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Co decreased their target price on ANNALY CAP MGMT/SH from $10.00 to $7.50 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Barclays lowered their target price on ANNALY CAP MGMT/SH from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, ValuEngine downgraded shares of ANNALY CAP MGMT/SH from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. ANNALY CAP MGMT/SH currently has a consensus rating of “Buy” and an average price target of $7.78.
ANNALY CAP MGMT/SH (NYSE:NLY) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. ANNALY CAP MGMT/SH had a negative net margin of 74.09% and a positive return on equity of 11.96%. The company had revenue of $398.78 million for the quarter, compared to analyst estimates of $205.00 million. During the same period last year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that ANNALY CAP MGMT/SH will post 0.98 earnings per share for the current fiscal year.
In other news, CFO Serena Wolfe acquired 20,000 shares of ANNALY CAP MGMT/SH stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average price of $6.12 per share, with a total value of $122,400.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares in the company, valued at $122,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy P. Coffey bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $6.00 per share, for a total transaction of $300,000.00. Following the acquisition, the insider now directly owns 88,000 shares in the company, valued at approximately $528,000. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 370,000 shares of company stock valued at $2,226,400. 0.36% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Thompson Investment Management Inc. raised its stake in shares of ANNALY CAP MGMT/SH by 15.2% during the second quarter. Thompson Investment Management Inc. now owns 11,540 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 1,525 shares in the last quarter. Regent Investment Management LLC grew its holdings in shares of ANNALY CAP MGMT/SH by 7.2% during the 2nd quarter. Regent Investment Management LLC now owns 22,801 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 1,530 shares during the last quarter. Lincoln National Corp raised its position in ANNALY CAP MGMT/SH by 3.5% in the 2nd quarter. Lincoln National Corp now owns 45,700 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 1,552 shares during the period. Firestone Capital Management grew its stake in shares of ANNALY CAP MGMT/SH by 8.9% during the second quarter. Firestone Capital Management now owns 22,000 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 1,800 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in shares of ANNALY CAP MGMT/SH by 9.2% in the first quarter. SeaCrest Wealth Management LLC now owns 21,708 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 1,829 shares during the period. 52.34% of the stock is currently owned by hedge funds and other institutional investors.
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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