Piper Sandler Increases Annaly Capital Management (NYSE:NLY) Price Target to $25.00

Annaly Capital Management (NYSE:NLY) had its target price upped by research analysts at Piper Sandler from $24.50 to $25.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target would suggest a potential upside of 12.49% from the company’s previous close.

A number of other analysts have also weighed in on the company. Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. JonesTrading reaffirmed a “buy” rating and issued a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Annaly Capital Management from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, UBS Group reiterated a “neutral” rating and set a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Annaly Capital Management Stock Performance

NLY opened at $22.23 on Thursday. The stock’s 50 day moving average price is $22.07 and its 200-day moving average price is $22.45. Annaly Capital Management has a one year low of $19.01 and a one year high of $24.52. The stock has a market cap of $16.29 billion, a price-to-earnings ratio of 7.51, a P/E/G ratio of 6.83 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The firm had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. As a group, analysts predict that Annaly Capital Management will post 2.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Annaly Capital Management by 111.8% in the first quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust’s stock valued at $1,154,000 after acquiring an additional 29,978 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Annaly Capital Management by 39.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust’s stock worth $302,000 after acquiring an additional 4,205 shares in the last quarter. Millennium Management LLC grew its holdings in Annaly Capital Management by 17.4% during the 1st quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust’s stock worth $11,003,000 after acquiring an additional 80,481 shares in the last quarter. NewEdge Advisors LLC increased its position in Annaly Capital Management by 20.8% during the 1st quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock valued at $362,000 after purchasing an additional 3,074 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Annaly Capital Management by 833.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock valued at $59,318,000 after purchasing an additional 2,607,784 shares during the period. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

About Annaly Capital Management

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.