Annaly Capital Downgraded to “Hold” at Jefferies & Co. (NLY)


Shutterstock photo

Mortgage-related investment securities firm Annaly Capital Management, Inc. ( NLY ) on Wednesday saw its rating cut but analysts at Jefferies & Co.

The firm said it downgraded NLY from "Buy" to "Hold" noting that investment spreads could be squeezed over the next several quarters. Jefferies currently has a $15 price target set on NLY, which implies a 16% downside to the stock's Tuesday closing price of $17.84.

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

The Bottom Line
Shares of Annaly Capital ( NLY ) have a 14.35% dividend yield, based on last night's closing stock price of $17.84. The stock has technical support in the $15-$17 price area. If the shares can firm up, we see overhead resistance around the $20 price level.

Annaly Capital Management, Inc. ( NLY ) is not recommended at this time, holding a 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 Nasdaq, Inc.

Created by

This article appears in: Investing , Stocks

More from

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by