Nomura Securities Maintains a 'Neutral' on Annaly Capital (NLY); Review of Q1

Nomura Securities maintains a 'Neutral' on Annaly Capital Management (NYSE: NLY) price target of $16.50.

Analyst, Bill Carcache, said, "NLY reported adjusted EPS (excluding the impact of unrealized gains and losses on interest rate swaps) of $0.54, vs. our estimate of $0.52 and consensus of $0.48. NLY managed to generate a reasonably attractive risk-adjusted ROE (including realized gains) of 13.3%. As expected, the company cut its dividend to $0.55 (from $0.57 previously). We remain cautious on NLY’s ability to sustain the current dividend and are expecting another cut in 2Q12 (to $0.53)...Our 2012E/2013E EPS is $2.12/$2.29 vs. Street at $1.96/$2.07, respectively."

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 $16.51 yesterday.

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