StockNews.com Upgrades Annaly Capital Management (NYSE:NLY) to “Buy”

StockNews.com upgraded shares of Annaly Capital Management (NYSE:NLY) from a hold rating to a buy rating in a report issued on Thursday morning.

Several other brokerages have also recently commented on NLY. Janney Montgomery Scott initiated coverage on Annaly Capital Management in a report on Thursday, June 6th. They issued a buy rating and a $21.00 target price on the stock. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $21.50 target price on shares of Annaly Capital Management in a report on Wednesday, March 27th. Compass Point initiated coverage on Annaly Capital Management in a report on Tuesday, April 2nd. They issued a buy rating and a $22.00 target price on the stock. JMP Securities reiterated a market perform rating on shares of Annaly Capital Management in a report on Thursday, April 18th. Finally, Jonestrading restated a buy rating and set a $21.00 price target on shares of Annaly Capital Management in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $21.07.

Annaly Capital Management Trading Up 2.5 %

NYSE:NLY opened at $20.42 on Thursday. The stock has a market cap of $10.22 billion, a P/E ratio of -21.05 and a beta of 1.54. The stock’s 50-day moving average is $19.71 and its 200-day moving average is $19.35. Annaly Capital Management has a 1-year low of $14.52 and a 1-year high of $21.07.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $320.00 million. Annaly Capital Management had a positive return on equity of 15.13% and a negative net margin of 8.38%. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, equities analysts forecast that Annaly Capital Management will post 2.64 EPS for the current year.

Annaly Capital Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.73%. The ex-dividend date is Friday, June 28th. Annaly Capital Management’s payout ratio is -268.04%.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors have recently modified their holdings of the company. Dupree Financial Group LLC acquired a new position in shares of Annaly Capital Management during the fourth quarter worth approximately $9,222,000. Nomura Asset Management Co. Ltd. raised its position in shares of Annaly Capital Management by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 159,622 shares of the real estate investment trust’s stock worth $3,092,000 after purchasing an additional 4,079 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Annaly Capital Management during the fourth quarter worth approximately $2,721,000. Norges Bank acquired a new position in shares of Annaly Capital Management during the fourth quarter worth approximately $110,244,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Annaly Capital Management by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,137,529 shares of the real estate investment trust’s stock worth $60,774,000 after purchasing an additional 116,102 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.