JPMorgan Chase & Co. Issues Positive Forecast for Annaly Capital Management (NYSE:NLY) Stock Price

Annaly Capital Management (NYSE:NLY) had its target price lifted by JPMorgan Chase & Co. from $24.00 to $26.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on the company. BTIG Research set a $24.00 price target on Annaly Capital Management in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Piper Sandler increased their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Annaly Capital Management has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Annaly Capital Management Stock Performance

Shares of NLY stock opened at $23.02 on Friday. The stock’s 50-day moving average is $22.12 and its two-hundred day moving average is $22.46. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 7.11 and a beta of 1.16. Annaly Capital Management has a 1 year low of $19.70 and a 1 year high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 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 business had revenue of $341.56 million for the quarter, compared to analysts’ expectations of $595.27 million. As a group, research analysts predict that Annaly Capital Management will post 3 EPS for the current year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.75 per share. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio is 101.35%.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors have recently added to or reduced their stakes in the stock. Fourth Dimension Wealth LLC lifted its position in Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 500 shares during the period. Root Financial Partners LLC increased its holdings in shares of Annaly Capital Management by 585.6% in the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,136 shares during the period. Camelot Portfolios LLC purchased a new stake in shares of Annaly Capital Management during the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Annaly Capital Management during the fourth quarter worth approximately $31,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Annaly Capital Management by 361.3% during the fourth quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,178 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 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.