Annaly downgraded at Compass Point

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.

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Comments (3)
  • sparker561
    , contributor
    Comments (104) | Send Message
    Ignore this downgrade.
    24 Mar 2014, 01:12 PM Reply Like
  • DANNY B.
    , contributor
    Comments (3) | Send Message
    why ignore this downgrade ????


    I am glad I bought KCAP at $8.14 last week. It is now $8.34 and
    dividend of 12.3% that $1.00 for each share / year.


    I was looking at NLY to buy / now ????
    26 Mar 2014, 09:17 AM Reply Like
  • barrister999
    , contributor
    Comments (8) | Send Message
    Compass Point is a joke. Check them out. Why would any legitimate financial journalist even report their viewpoint.
    27 Mar 2014, 09:40 PM Reply Like
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