JPMorgan Chase & Co. Boosts Annaly Capital Management (NYSE:NLY) Price Target to $21.00

Annaly Capital Management (NYSE:NLY) had its price target lifted by analysts at JPMorgan Chase & Co. from $19.00 to $21.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.93% from the company’s previous close.

A number of other research firms also recently weighed in on NLY. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Argus upgraded shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, October 31st. Barclays initiated coverage on shares of Annaly Capital Management in a research note on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective for the company. Finally, Royal Bank of Canada increased their price target on Annaly Capital Management from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.44.

Annaly Capital Management Trading Up 0.6 %

Shares of NYSE:NLY traded up $0.13 during trading on Friday, hitting $20.60. 5,412,155 shares of the company’s stock traded hands, compared to its average volume of 6,497,972. The company has a 50-day moving average price of $19.27 and a 200-day moving average price of $19.70. Annaly Capital Management has a 52 week low of $17.67 and a 52 week high of $21.11. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 12.97 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share (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%. On average, analysts predict that Annaly Capital Management will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors and hedge funds have recently modified their holdings of the stock. Armstrong Advisory Group Inc. boosted its stake in Annaly Capital Management by 6.6% in the 4th quarter. Armstrong Advisory Group Inc. now owns 9,121 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 562 shares during the period. Fermata Advisors LLC increased its position in Annaly Capital Management by 3.2% during the fourth quarter. Fermata Advisors LLC now owns 18,022 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 563 shares during the period. Toth Financial Advisory Corp increased its position in Annaly Capital Management by 31.8% during the third quarter. Toth Financial Advisory Corp now owns 2,390 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 576 shares during the period. Wesbanco Bank Inc. raised its stake in Annaly Capital Management by 2.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 21,314 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 584 shares in the last quarter. Finally, KG&L Capital Management LLC increased its holdings in shares of Annaly Capital Management by 2.0% during the fourth quarter. KG&L Capital Management LLC now owns 30,648 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 600 shares during the period. 51.56% of the stock is currently owned by institutional investors and hedge funds.

About Annaly Capital Management

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.