Annaly Capital Management (NYSE:NLY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Annaly Capital Management (NYSE:NLY) had its price objective increased by JPMorgan Chase & Co. from $19.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. Argus raised Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Annaly Capital Management from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, January 27th. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Finally, Barclays started coverage on Annaly Capital Management in a report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.44.

Annaly Capital Management Stock Performance

NYSE:NLY opened at $20.39 on Friday. The firm has a market cap of $11.43 billion, a PE ratio of 12.82 and a beta of 1.51. The business has a 50 day moving average price of $19.29 and a 200-day moving average price of $19.69. Annaly Capital Management has a fifty-two week low of $17.67 and a fifty-two week high of $21.11.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a return on equity of 15.30% and a net margin of 20.70%. Research analysts predict that Annaly Capital Management will post 2.71 EPS for the current year.

Annaly Capital Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.65 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 12.75%. Annaly Capital Management’s payout ratio is presently 163.52%.

Institutional Trading of Annaly Capital Management

A number of hedge funds have recently modified their holdings of the stock. Plan Group Financial LLC boosted its stake in shares of Annaly Capital Management by 9.5% in the fourth quarter. Plan Group Financial LLC now owns 42,388 shares of the real estate investment trust’s stock worth $776,000 after buying an additional 3,678 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Annaly Capital Management by 3.0% in the fourth quarter. New York State Common Retirement Fund now owns 341,784 shares of the real estate investment trust’s stock worth $6,255,000 after buying an additional 10,000 shares during the last quarter. Angel Oak Capital Advisors LLC purchased a new stake in shares of Annaly Capital Management in the fourth quarter worth about $1,827,000. Atria Wealth Solutions Inc. boosted its stake in shares of Annaly Capital Management by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 130,229 shares of the real estate investment trust’s stock worth $2,402,000 after buying an additional 2,942 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Annaly Capital Management by 17.2% in the fourth quarter. CIBC Asset Management Inc now owns 20,654 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 3,027 shares during the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.