UBS Downgrades Annaly Capital Management (NLY) to Neutral

September 3, 2019 5:54 AM EDT
Get Alerts NLY Hot Sheet
Price: $8.69 +0.35%

Rating Summary:
    12 Buy, 11 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 8 | New: 9
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UBS analyst Brock Vandervliet downgraded Annaly Capital Management (NYSE: NLY) from Buy to Neutral with a price target of $8.00 (from $9.50).

The analyst comments "...the facts have changed surrounding NLY which as an mREIT is in the most interest rate sensitive sector. The facts include a radically different and more hostile rate environment that is both sharply lower than mid-June when we initiated and also a 2s10s UST yield curve that not only flattened but inverted. While changes in the macro outlook, namely a trade settlement, could potentially move interest rates back to levels similar to June, this new environment requires a more conservative outlook."

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 $8.25 yesterday.

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