Annaly Capital Management (NYSE:NLY) Given New $22.00 Price Target at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its price target lifted by JPMorgan Chase & Co. from $21.00 to $22.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Compass Point increased their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $19.00 to $23.00 in a report on Friday, September 20th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Annaly Capital Management Trading Up 0.6 %

Annaly Capital Management stock opened at $20.28 on Thursday. Annaly Capital Management has a 12-month low of $14.52 and a 12-month high of $21.11. The firm has a 50-day moving average price of $20.11 and a 200-day moving average price of $19.73. The firm has a market capitalization of $10.15 billion, a PE ratio of -20.91 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, sell-side analysts predict that Annaly Capital Management will post 2.66 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, September 30th. This represents a $2.60 annualized dividend and a yield of 12.82%. Annaly Capital Management’s dividend payout ratio is presently -268.04%.

Insider Activity

In related news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the transaction, the chief executive officer now owns 612,469 shares in the company, valued at $12,280,003.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Natixis grew its stake in Annaly Capital Management by 16,140.0% in the first quarter. Natixis now owns 68,208 shares of the real estate investment trust’s stock valued at $1,343,000 after purchasing an additional 67,788 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Annaly Capital Management by 27.3% in the 1st quarter. Russell Investments Group Ltd. now owns 169,043 shares of the real estate investment trust’s stock worth $3,303,000 after acquiring an additional 36,269 shares during the period. CWM LLC lifted its position in Annaly Capital Management by 138.8% during the 1st quarter. CWM LLC now owns 12,158 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 7,067 shares during the last quarter. PGGM Investments boosted its holdings in Annaly Capital Management by 152.0% during the second quarter. PGGM Investments now owns 428,406 shares of the real estate investment trust’s stock valued at $8,165,000 after acquiring an additional 258,388 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Annaly Capital Management in the second quarter valued at about $478,000. 51.56% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Company Profile

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.