Annaly downgraded at Compass Point

|About: Annaly Capital Managemen... (NLY)|By:, SA News Editor

Annaly Capital (NLY) is off 0.6% in premarket action after Compass Point cashes in its chips on it Buy recommendation, and cuts the stock to Neutral.

A 15% gain this year has brought the stock nearer to book value - Friday's close of $11.48 is a just a 5.4% discount to Dec. 31 book of $12.13 (though there's reason to believe book value is higher today than it was at year's end).

Annaly and the mortgage REITs in general had a sizable setback Wednesday afternoon as the Fed talked rate hikes, but managed to erase those losses by the close of the week.

See also: Compass Point rings register on a number of mREIT names.