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

Annaly Capital Management (NYSE:NLY) had its target price cut by JPMorgan Chase & Co. from $20.00 to $19.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the stock. Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, October 31st. Barclays started coverage on Annaly Capital Management in a report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

Annaly Capital Management Stock Performance

Shares of NLY stock opened at $19.35 on Tuesday. The company has a 50 day moving average price of $19.25 and a 200 day moving average price of $19.69. The stock has a market capitalization of $10.84 billion, a P/E ratio of -276.39 and a beta of 1.51. Annaly Capital Management has a fifty-two week low of $17.67 and a fifty-two week high of $21.11.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $212.00 million. During the same period last year, the business posted $0.66 EPS. On average, research analysts forecast that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.65 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.44%. Annaly Capital Management’s dividend payout ratio (DPR) is presently -3,714.29%.

Institutional Investors Weigh In On Annaly Capital Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its position in Annaly Capital Management by 7.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 258,817 shares of the real estate investment trust’s stock valued at $4,933,000 after acquiring an additional 18,599 shares during the period. Renaissance Technologies LLC lifted its holdings in Annaly Capital Management by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 581,215 shares of the real estate investment trust’s stock valued at $11,078,000 after acquiring an additional 21,200 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Annaly Capital Management by 6.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 35,058 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 2,010 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Annaly Capital Management by 40.0% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 130,044 shares of the real estate investment trust’s stock worth $2,479,000 after buying an additional 37,130 shares in the last quarter. Finally, Sei Investments Co. grew its position in Annaly Capital Management by 13.0% in the second quarter. Sei Investments Co. now owns 875,593 shares of the real estate investment trust’s stock worth $16,688,000 after buying an additional 100,940 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.