Deutsche Bank maintains Buy, $19.50 Target on Annaly Capital Management

Deutsche Bank reiterates its Buy rating and $19.50 price target on Annaly Capital Management (NYSE: NLY) as the company posts a 4Q dividend below estimates.

Deutsche Bank notes, "Annaly declared a 4Q dividend of $0.57 per share, which was down sequentially from $0.60 per share and was also below our $0.60 per share estimate. We believe the sequential decline, as well as the shortfall to our estimate, is likely due to elevated prepayments and possibly lower than expected leverage."

NLY closed at $16.42 per share on Monday.