Barclays Reiterates an 'Overweight' on Annaly Capital Management (NLY); Conservative Tactics Yield Solid Returns

Barclays reiterates an 'Overweight' on Annaly Capital Management (NYSE: NLY) price target of $18.00.

Barclays analyst says, "Overall we view the results as positive because we believe the more conservative balance sheet management should increase the sustainability of the dividend. While we are revising down our estimates in coming quarters to adjust for lower leverage and asset yields, we continue to view the company as capable of generating mid-teens returns. With the shares trading down to a nearly 15% dividend yield and 1.0x book vs. an historic multiple closer to 1.1x, we recommend adding to positions based on the continued compelling total return opportunity."

For more ratings news on Annaly Capital Management click here and for the rating history of Annaly Capital Management click here.

Shares of Annaly Capital Management closed at $16.32 yesterday.

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