Jefferies Lowers Numbers On Annaly Capital (NLY), Keeps Hold Rating

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Jefferies trimmed estimates and its price target on Annaly Capital Management (NYSE: NLY) from $16.50 to $16 following Q4 results with adjusted EPS of $0.54, $0.03 below the Street and $0.05 below the firm's estimate. The firm maintained a Hold rating.

The analyst comments, "The Company reported a marginal book value decline from $16.22 at 3Q11 to $16.06 at 4Q11, a significant 22% Q/Q increase in CPRs from 18 to 22, portfolio contraction of 2% Q/Q, and spread compression from 208bps in 3Q11 to 171bps in 4Q11."

Q1 EPS goes down from $0.61 to $0.48 and FY12 from $2.41 to $1.94.

For an analyst ratings summary and ratings history on Annaly Capital Management click here. For more ratings news on Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $16.55 yesterday, with a 52 week range of $14.05-$18.79.

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