Annaly Capital Management (NYSE:NLY) Price Target Raised to $25.00

Annaly Capital Management (NYSE:NLY) had its price target raised by Royal Bank Of Canada from $23.00 to $25.00 in a report published on Thursday, Marketbeat Ratings reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on NLY. Barclays set a $24.00 price objective on Annaly Capital Management and gave the company an “equal weight” rating in a report on Friday, January 30th. BTIG Research raised Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price objective (up previously from $23.50) on shares of Annaly Capital Management in a research note on Thursday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Annaly Capital Management from $23.25 to $25.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management has a consensus rating of “Moderate Buy” and a consensus target price of $24.11.

Annaly Capital Management Price Performance

NLY stock opened at $22.88 on Thursday. The firm’s fifty day simple moving average is $23.08 and its 200-day simple moving average is $21.85. The company has a market capitalization of $15.63 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 7.09 and a beta of 1.24. Annaly Capital Management has a 12 month low of $16.59 and a 12 month high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a net margin of 34.02% and a return on equity of 15.80%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $567.67 million. As a group, sell-side analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio (DPR) is presently 100.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Annaly Capital Management by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock worth $1,422,401,000 after buying an additional 3,024,564 shares in the last quarter. State Street Corp increased its position in shares of Annaly Capital Management by 7.4% during the third quarter. State Street Corp now owns 24,371,827 shares of the real estate investment trust’s stock worth $508,920,000 after purchasing an additional 1,687,839 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Annaly Capital Management by 6.8% during the second quarter. Geode Capital Management LLC now owns 14,926,231 shares of the real estate investment trust’s stock worth $280,535,000 after purchasing an additional 949,260 shares in the last quarter. Norges Bank acquired a new position in Annaly Capital Management in the 2nd quarter valued at $130,626,000. Finally, Northern Trust Corp lifted its holdings in Annaly Capital Management by 1.1% in the 3rd quarter. Northern Trust Corp now owns 6,604,380 shares of the real estate investment trust’s stock valued at $133,475,000 after purchasing an additional 70,262 shares in the last quarter. 51.56% of the stock is 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.