Annaly Capital Management (NYSE:NLY) PT Raised to $23.50 at Compass Point

Annaly Capital Management (NYSE:NLY) had its target price upped by stock analysts at Compass Point from $22.00 to $23.50 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Compass Point’s price objective suggests a potential upside of 18.81% from the company’s current price.

Other research analysts also recently issued reports about the company. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, April 18th. JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Jonestrading reiterated a “buy” rating and issued a $21.00 target price on shares of Annaly Capital Management in a research note on Thursday, April 25th. StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Janney Montgomery Scott assumed coverage on Annaly Capital Management in a report on Thursday, June 6th. They set a “buy” rating and a $21.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.25.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock traded up $0.14 during midday trading on Friday, reaching $19.78. 553,513 shares of the company’s stock traded hands, compared to its average volume of 3,541,013. Annaly Capital Management has a 52 week low of $14.52 and a 52 week high of $21.07. The company’s 50 day simple moving average is $19.76 and its 200 day simple moving average is $19.41. The company has a market cap of $9.90 billion, a price-to-earnings ratio of -20.36 and a beta of 1.54.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share (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 analysts’ expectations of $318.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.28%. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities research analysts predict that Annaly Capital Management will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NLY. Vanguard Group Inc. raised its stake in shares of 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 valued at $954,941,000 after acquiring an additional 1,619,729 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Annaly Capital Management by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,449,356 shares of the real estate investment trust’s stock valued at $343,578,000 after purchasing an additional 278,391 shares during the last quarter. Balyasny Asset Management L.P. raised its position in Annaly Capital Management by 159.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,118,940 shares of the real estate investment trust’s stock valued at $118,524,000 after purchasing an additional 3,762,652 shares during the last quarter. Norges Bank bought a new stake in shares of Annaly Capital Management during the fourth quarter worth $110,244,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Annaly Capital Management by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock valued at $77,996,000 after buying an additional 41,069 shares in the last quarter. 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.