Annaly Capital Management (NYSE:NLY) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Annaly Capital Management (NYSE:NLY – Get Rating) to a sell rating in a research report released on Tuesday morning.

Several other equities research analysts have also recently issued reports on NLY. Piper Sandler upgraded Annaly Capital Management from a neutral rating to an overweight rating and raised their price objective for the stock from $20.00 to $21.50 in a report on Tuesday, May 2nd. Argus cut Annaly Capital Management from a buy rating to a hold rating in a report on Tuesday, February 21st. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their target price on Annaly Capital Management from $23.00 to $22.00 in a report on Monday, April 24th. Royal Bank of Canada lifted their target price on Annaly Capital Management from $20.00 to $24.00 and gave the company an outperform rating in a report on Friday, February 17th. Finally, Wells Fargo & Company reduced their target price on Annaly Capital Management from $23.00 to $21.00 in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Annaly Capital Management presently has a consensus rating of Moderate Buy and an average price target of $22.28.

Annaly Capital Management Price Performance

NLY stock opened at $18.73 on Tuesday. Annaly Capital Management has a 52-week low of $15.11 and a 52-week high of $27.96. The stock’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $20.63. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of -8.32 and a beta of 1.36.

Annaly Capital Management (NYSE:NLY – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. Annaly Capital Management had a positive return on equity of 18.86% and a negative net margin of 38.80%. The business had revenue of $818.25 million for the quarter, compared to analysts’ expectations of $183.00 million. During the same quarter last year, the firm earned $1.12 earnings per share. Equities research analysts expect that Annaly Capital Management will post 2.86 EPS for the current year.

Annaly Capital Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 13.88%. The ex-dividend date of this dividend was Thursday, March 30th. Annaly Capital Management’s dividend payout ratio (DPR) is presently -115.56%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Annaly Capital Management by 166.1% during the second quarter. Goldman Sachs Group Inc. now owns 14,866,079 shares of the real estate investment trust’s stock worth $87,858,000 after acquiring an additional 9,279,874 shares during the last quarter. State Street Corp increased its position in shares of Annaly Capital Management by 14.0% during the second quarter. State Street Corp now owns 34,722,698 shares of the real estate investment trust’s stock worth $212,614,000 after acquiring an additional 4,263,394 shares during the last quarter. Norges Bank purchased a new stake in shares of Annaly Capital Management during the fourth quarter worth about $83,248,000. Vanguard Group Inc. increased its position in shares of Annaly Capital Management by 2.9% during the first quarter. Vanguard Group Inc. now owns 132,287,354 shares of the real estate investment trust’s stock worth $931,303,000 after acquiring an additional 3,668,441 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Annaly Capital Management by 274,965.9% during the first quarter. Balyasny Asset Management L.P. now owns 3,168,759 shares of the real estate investment trust’s stock worth $60,555,000 after acquiring an additional 3,167,607 shares during the last quarter. 52.80% of the stock is owned by hedge funds and other institutional investors.

About Annaly Capital Management

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Annaly Capital Management, Inc engages in the investment and financing of residential and commercial assets. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. The Agency group invests in agency mortgage-backed securities. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets.