Compass Point Downgrades Annaly Capital Management (NLY) to Neutral; Taking Some Off The Table
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Price: $14.65 --0%
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 12
Rating Summary:
5 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 24 | New: 12
Trade NLY Now!
Compass Point downgraded Annaly Capital Management (NYSE: NLY) from Buy to Neutral with a price target of $17.00.
Analyst, Jason Stewart, said, "Since upgrading our rating on the shares of NLY to Buy on April 9, 2012, NLY has achieved a total return of 8.4% compared to a total return of -3.4% for the S&P Index and -7.8% for the BKX. Over the near term, we expect an increase in prepayment speeds (both through increased regular way refi activty and an increasingly effective HARP 2.0 program) to have a negative impact on the net interest margin of NLY's portfolio. Over the intermediate term, however, many of the factors that have undperpinned our positive thesis on the sector remain in place. We expect that the relatively steep yield curve, which has been anchored by the Fed, will remain in place through 2013."
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 $16.89 yesterday, with a 52 week range of $14.05-$18.79.
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Analyst, Jason Stewart, said, "Since upgrading our rating on the shares of NLY to Buy on April 9, 2012, NLY has achieved a total return of 8.4% compared to a total return of -3.4% for the S&P Index and -7.8% for the BKX. Over the near term, we expect an increase in prepayment speeds (both through increased regular way refi activty and an increasingly effective HARP 2.0 program) to have a negative impact on the net interest margin of NLY's portfolio. Over the intermediate term, however, many of the factors that have undperpinned our positive thesis on the sector remain in place. We expect that the relatively steep yield curve, which has been anchored by the Fed, will remain in place through 2013."
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 $16.89 yesterday, with a 52 week range of $14.05-$18.79.
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