Annaly Capital Management (NYSE:NLY) Price Target Raised to $22.00

Annaly Capital Management (NYSE:NLY) had its price target upped by JPMorgan Chase & Co. from $21.00 to $22.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

NLY has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, October 8th. Barclays set a $20.00 price objective on shares of Annaly Capital Management and gave the stock a “cautious” rating in a research note on Monday, October 6th. Royal Bank Of Canada raised their target price on shares of Annaly Capital Management from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. UBS Group upped their price target on shares of Annaly Capital Management from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Jones Trading reissued a “buy” rating and issued a $21.00 price objective on shares of Annaly Capital Management in a research report on Thursday, July 24th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Annaly Capital Management currently has a consensus rating of “Hold” and an average target price of $21.50.

Annaly Capital Management Price Performance

Annaly Capital Management stock opened at $21.29 on Monday. Annaly Capital Management has a 1 year low of $16.59 and a 1 year high of $22.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a 50 day moving average price of $21.13 and a 200 day moving average price of $19.95. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 4.98 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $885.58 million for the quarter, compared to analyst estimates of $493.55 million. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. Sell-side analysts predict that Annaly Capital Management will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Annaly Capital Management’s payout ratio is presently 277.23%.

Institutional Investors Weigh In On Annaly Capital Management

Hedge funds and other institutional investors have recently bought and sold shares of the business. Inlight Wealth Management LLC acquired a new position in Annaly Capital Management in the first quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Annaly Capital Management during the 2nd quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. bought a new position in Annaly Capital Management during the first quarter worth $28,000. Twin Tree Management LP bought a new position in Annaly Capital Management during the first quarter worth $29,000. Finally, Delos Wealth Advisors LLC acquired a new position in Annaly Capital Management in the second quarter worth $28,000. 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.