Annaly Capital Management (NYSE:NLY) Price Target Raised to $22.00

Annaly Capital Management (NYSE:NLY) had its target price increased by JPMorgan Chase & Co. from $21.00 to $22.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, Compass Point raised their price objective on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Annaly Capital Management Price Performance

Shares of NYSE:NLY opened at $20.28 on Thursday. The stock’s 50-day moving average is $20.11 and its 200 day moving average is $19.73. The company has a market cap of $10.15 billion, a PE ratio of -20.91 and a beta of 1.51. Annaly Capital Management has a 1 year low of $14.52 and a 1 year high of $21.11.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same quarter in the prior year, the company earned $0.72 earnings per share. Analysts expect that Annaly Capital Management will post 2.66 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 12.82%. The ex-dividend date of this dividend is Monday, September 30th. Annaly Capital Management’s payout ratio is -268.04%.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the sale, the chief executive officer now owns 612,469 shares in the company, valued at $12,280,003.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annaly Capital Management

Several large investors have recently bought and sold shares of NLY. Algebris UK Ltd boosted its holdings in shares of Annaly Capital Management by 195.9% during the 1st quarter. Algebris UK Ltd now owns 4,034,821 shares of the real estate investment trust’s stock valued at $87,532,000 after acquiring an additional 2,671,236 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Annaly Capital Management by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 49,300,019 shares of the real estate investment trust’s stock worth $954,941,000 after purchasing an additional 1,619,729 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Annaly Capital Management by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust’s stock worth $361,061,000 after purchasing an additional 1,342,056 shares during the period. Cetera Investment Advisers raised its stake in Annaly Capital Management by 454.6% during the 1st quarter. Cetera Investment Advisers now owns 1,010,542 shares of the real estate investment trust’s stock valued at $19,898,000 after buying an additional 828,325 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Annaly Capital Management by 171.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,033,609 shares of the real estate investment trust’s stock valued at $19,565,000 after buying an additional 652,540 shares during the period. 51.56% of the stock is currently owned by institutional investors.

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.