Annaly Capital Management (NYSE:NLY) broke out at 7.61 on 10 November and confirmed on 18 December at 8.40. Garnering a Buy rating.
All Key technical indicators have turned Very Bullish, and our overall analysis is Bullish with a Very Bullish long term. There is Strong support at 8.24 and the resistance is NIL.
NLY pays an annual dividend a 10,48%
The stock is trading at 8.34 within it 52 wk trading range of 3.51 – 10.50. Our target price is 14/share into mid-2021.
Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets.
The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments.
It also provides financing to private equity-backed middle market businesses; and operates as a broker-dealer.
The company has elected to be taxed as a real estate investment trust (REIT).
As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders.
Annaly Capital Management, Inc. was founded in Y 1996 and is HQ’d in New York, New York.
Have a healthy, Happy Christmas week, Keep the Faith!