Annaly Capital Management (NYSE:NLY) Price Target Lowered to $19.00 at JPMorgan Chase & Co.

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

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

Annaly Capital Management Stock Up 1.0 %

NLY opened at $19.51 on Tuesday. The firm’s 50 day moving average is $19.26 and its 200-day moving average is $19.69. Annaly Capital Management has a 52-week low of $17.67 and a 52-week high of $21.11. The firm has a market capitalization of $10.93 billion, a P/E ratio of -278.67 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $212.00 million. Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. During the same period last year, the firm earned $0.66 EPS. Equities analysts expect that Annaly Capital Management will post 2.65 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 Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 13.33%. The ex-dividend date of this dividend is Tuesday, December 31st. Annaly Capital Management’s dividend payout ratio is presently -3,714.29%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NLY. Allspring Global Investments Holdings LLC grew its position in shares of Annaly Capital Management by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust’s stock valued at $361,061,000 after buying an additional 1,342,056 shares during the last quarter. State Street Corp grew its holdings in shares of Annaly Capital Management by 1.3% during the third quarter. State Street Corp now owns 17,400,024 shares of the real estate investment trust’s stock valued at $360,296,000 after purchasing an additional 223,294 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Annaly Capital Management by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 8,638,216 shares of the real estate investment trust’s stock worth $172,988,000 after purchasing an additional 241,465 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Annaly Capital Management by 531.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,981,081 shares of the real estate investment trust’s stock worth $79,900,000 after purchasing an additional 3,350,435 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Annaly Capital Management by 21.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,057,037 shares of the real estate investment trust’s stock valued at $61,355,000 after purchasing an additional 541,869 shares during the period. 51.56% of the stock is currently owned by 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.