Annaly Capital Management (NYSE:NLY) Price Target Raised to $21.00

Annaly Capital Management (NYSE:NLY) had its target price lifted by JPMorgan Chase & Co. from $20.00 to $21.00 in a research note published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

NLY has been the subject of a number of other reports. JMP Securities reissued a market perform rating on shares of Annaly Capital Management in a research report on Thursday, April 18th. Janney Montgomery Scott initiated coverage on shares of Annaly Capital Management in a research report on Thursday, June 6th. They set a buy rating and a $21.00 price target for the company. Compass Point initiated coverage on shares of Annaly Capital Management in a research report on Tuesday, April 2nd. They set a buy rating and a $22.00 price target for the company. Jonestrading reissued a buy rating and set a $21.00 price target on shares of Annaly Capital Management in a research report on Thursday, April 25th. Finally, StockNews.com raised shares of Annaly Capital Management from a hold rating to a buy rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $21.06.

Annaly Capital Management Stock Down 0.3 %

Shares of Annaly Capital Management stock opened at $20.07 on Tuesday. The firm has a market capitalization of $10.04 billion, a P/E ratio of -20.69 and a beta of 1.54. The company has a 50 day moving average price of $19.77 and a 200 day moving average price of $19.38. Annaly Capital Management has a 52 week low of $14.52 and a 52 week high of $21.07.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.64 EPS for the quarter, meeting the consensus estimate of $0.64. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $320.00 million. Annaly Capital Management had a negative net margin of 8.38% and a positive return on equity of 15.13%. During the same period last year, the firm posted $0.81 EPS. As a group, research analysts anticipate that Annaly Capital Management will post 2.63 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, June 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.95%. Annaly Capital Management’s payout ratio is -268.04%.

Institutional Investors Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Beaird Harris Wealth Management LLC grew its stake in shares of Annaly Capital Management by 21.4% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 2,837 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 500 shares during the period. Redmont Wealth Advisors LLC grew its stake in Annaly Capital Management by 20.6% in the 2nd quarter. Redmont Wealth Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 559 shares during the period. Sunbelt Securities Inc. grew its stake in Annaly Capital Management by 6.0% in the 1st quarter. Sunbelt Securities Inc. now owns 9,937 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 562 shares during the period. Family Asset Management LLC grew its stake in Annaly Capital Management by 2.7% in the 4th quarter. Family Asset Management LLC now owns 22,961 shares of the real estate investment trust’s stock valued at $445,000 after acquiring an additional 596 shares during the period. Finally, Retirement Group LLC grew its stake in Annaly Capital Management by 27.7% in the 1st quarter. Retirement Group LLC now owns 3,168 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 687 shares during the period. Institutional investors and hedge funds 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.