Annaly Capital Catches a Downgrade from JMP Securities (NLY)

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Investment manager Annaly Capital Management, Inc. ( NLY ) on Wednesday saw its rating cut by analysts at JMP Securities.

The firm downgraded NLY from "Outperform" to "Market Perform," noting that its mortgage-backed securities investments have underperformed. JMP also said the company is facing higher pre-payment rates in its mortgage-backed securities.

Annaly Capital shares fell 11 cents, or -0.6%, in premarket trading Wednesday.

The Bottom Line
Shares of NLY have a 15.67% dividend yield, based on last night's closing stock price of $17.36. The stock has technical support in the $15 price area. If the shares can firm up, we see overhead resistance around the $18-$19 price levels. We would remain on the sidelines for now.

Annaly Capital Management, Inc. ( NLY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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