Annaly Capital Management Inc (NLY) has risen sharply, recording gains of 0.37% in the past 4 weeks. However, the stock has corrected -1.26% in the past 1 week, providing a good buying opportunity on dips. Annaly Capital Management Inc (NLY) : During the past 4 weeks, traders have been relatively bearish on Annaly Capital Management Inc (NLY), hence the stock is down -0.02% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.23% relative to the S&P 500.
Annaly Capital Management, Inc. is up 3.34% in the last 3-month period. Year-to-Date the stock performance stands at 23.88%. The stock has recorded a 20-day Moving Average of 0.46% and the 50-Day Moving Average is 1.47%.
Annaly Capital Management Inc (NYSE:NLY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.83 and $10.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.94, notching a gain of 1.02% for the day. The total traded volume was 6,353,119 . The stock had closed at $10.83 on the previous day.
Also, Equity analysts at the Brokerage firm Deutsche Bank maintains its rating on Annaly Capital Management Inc (NYSE:NLY). The rating major has initiated the coverage with hold rating on the shares. The Analysts at Deutsche Bank raises the price target from $10.5 per share to $11 per share. The rating by the firm was issued on August 12, 2016.
Annaly Capital Management, Inc. is a mortgage real estate investment trust (REIT). The Company uses its capital coupled with borrowed funds to invest in real estate related investments, earning the spread between the yield on its assets and the cost of its borrowings. It owns a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations (CMOs), Agency callable debentures, other securities representing interests in or obligations backed by pools of mortgage loans, commercial real estate assets and corporate debt. The Companys business operations consist of Annaly (the parent company), Annaly Commercial Real Estate Group, Inc. (ACREG), RCap Securities, Inc., Fixed Income Discount Advisory Company (FIDAC), Annaly Middle Market Lending LLC and Shannon Funding LLC.