Annaly Capital Management (NYSE:NLY) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Annaly Capital Management (NYSE:NLY) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $23.25 to $25.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 8.01% from the company’s current price.

A number of other brokerages have also commented on NLY. Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up from $23.50) on shares of Annaly Capital Management in a report on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $23.00) on shares of Annaly Capital Management in a research note on Thursday. Finally, Barclays set a $24.00 target price on shares of Annaly Capital Management and gave the stock an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.89.

Annaly Capital Management Trading Down 3.6%

Shares of NLY traded down $0.86 during mid-day trading on Friday, reaching $23.15. The company had a trading volume of 7,415,332 shares, compared to its average volume of 8,460,951. The stock has a market cap of $15.81 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 7.56 and a beta of 1.25. The firm has a fifty day simple moving average of $23.03 and a 200-day simple moving average of $21.71. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Annaly Capital Management had a net margin of 34.02% and a return on equity of 16.49%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $567.67 million. As a group, equities analysts predict that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its holdings in shares of Annaly Capital Management by 1.8% in the third quarter. ProShare Advisors LLC now owns 27,309 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 481 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Annaly Capital Management by 41.6% during the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 496 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Annaly Capital Management by 1.4% during the third quarter. Quadrant Capital Group LLC now owns 39,282 shares of the real estate investment trust’s stock worth $794,000 after acquiring an additional 524 shares in the last quarter. Jupiter Wealth Management LLC increased its position in Annaly Capital Management by 3.4% in the 2nd quarter. Jupiter Wealth Management LLC now owns 16,621 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 551 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Annaly Capital Management by 23.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,859 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.