Nomura Securities Maintains a 'Neutral' on Annaly Capital (NLY); Q4 Review
NLY Hot Sheet
Rating Summary:6 Buy, 12 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 20 | Down: 11 | New: 38
Nomura Securities maintains a 'Neutral' on Annaly Capital Management (NYSE: NLY) price target of $16.50.
Analyst, Bill Carcache, said, "Despite lower leverage, NLY continues to generate solid risk-adjusted returns, while maintaining a healthy dividend yield. While NLY’s current dividend yield of ~13% is in line relative to several of its peers (Hatteras (NYSE: HTS), Capstead (NYSE: CMO), and Anworth (NYSE: ANH)), the company is operating under a significantly lower level of risk (i.e., leverage). Management indicated that it would consider taking leverage higher under certain conditions, including the following: 1) Clarity around the presidential election, 2) Stronger economic data, 3) Getting the risk of QE3 in the rear view mirror, 4) Improvement in the level of global economic uncertainty, and 5) Transparency on what the Fed intends to do with its portfolio. Our 2012 / 2013 EPS estimates go to $2.09 / $2.29 (from $2.11 / $2.30)."
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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Analyst, Bill Carcache, said, "Despite lower leverage, NLY continues to generate solid risk-adjusted returns, while maintaining a healthy dividend yield. While NLY’s current dividend yield of ~13% is in line relative to several of its peers (Hatteras (NYSE: HTS), Capstead (NYSE: CMO), and Anworth (NYSE: ANH)), the company is operating under a significantly lower level of risk (i.e., leverage). Management indicated that it would consider taking leverage higher under certain conditions, including the following: 1) Clarity around the presidential election, 2) Stronger economic data, 3) Getting the risk of QE3 in the rear view mirror, 4) Improvement in the level of global economic uncertainty, and 5) Transparency on what the Fed intends to do with its portfolio. Our 2012 / 2013 EPS estimates go to $2.09 / $2.29 (from $2.11 / $2.30)."
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.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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