Keefe, Bruyette & Woods Raises Annaly Capital Management (NYSE:NLY) Price Target to $21.50

Annaly Capital Management (NYSE:NLY) had its price objective upped by equities research analysts at Keefe, Bruyette & Woods from $20.50 to $21.50 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 3.19% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NLY. JPMorgan Chase & Co. decreased their price objective on Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. UBS Group restated a “neutral” rating and set a $20.00 price objective (up from $18.00) on shares of Annaly Capital Management in a research note on Thursday, July 10th. Piper Sandler decreased their price objective on Annaly Capital Management from $21.50 to $21.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Royal Bank Of Canada decreased their price objective on Annaly Capital Management from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 27th. Finally, Jones Trading restated a “buy” rating and set a $21.00 price objective on shares of Annaly Capital Management in a research note on Thursday. Three 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.72.

Annaly Capital Management Price Performance

NLY opened at $20.84 on Friday. Annaly Capital Management has a 12-month low of $16.59 and a 12-month high of $22.11. The company has a current ratio of 0.11, a quick ratio of 0.10 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $19.38 and its 200-day simple moving average is $19.78. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 4.58 and a beta of 1.22.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%. The business had revenue of $273.20 million for the quarter, compared to the consensus estimate of $237.00 million. On average, equities research analysts anticipate that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Inlight Wealth Management LLC purchased a new position in shares of Annaly Capital Management in the first quarter worth about $25,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Annaly Capital Management in the first quarter worth about $28,000. Twin Tree Management LP purchased a new position in shares of Annaly Capital Management in the first quarter worth about $29,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Annaly Capital Management in the first quarter worth about $36,000. Finally, MCF Advisors LLC raised its stake in shares of Annaly Capital Management by 1,087.1% in the first quarter. MCF Advisors LLC now owns 1,745 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,598 shares during the last quarter. 51.56% of the stock is currently owned by hedge funds and other 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.