Mortgage investment REIT Annaly Capital Management, Inc. (
) on Tuesday caught a big downgrade from analysts at Wells
The firm said it cut its rating on NLY from "Outperform" to
"Market Perform" with a $16-17 valuation range. That range implies
essentially zero upside to the stock's Monday closing price of
Wells Fargo noted the company's longer duration portfolio
includes big potential risks, given rising longer term rates.
Annaly Capital shares fell 13 cents, or -0.8%, in premarket
The Bottom Line
Shares of Annaly Capital (
) have a 14.70% dividend yield, based on last night's closing stock
price of $16.60. The stock has technical support in the $15.50
price area. If the shares can firm up, we see overhead resistance
around the $17.50 price level.
Annaly Capital Management, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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