Annaly Capital Management (NYSE:NLY) Given New $22.00 Price Target at Royal Bank of Canada

Annaly Capital Management (NYSE:NLY) had its price objective raised by Royal Bank of Canada from $21.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

NLY has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on shares of Annaly Capital Management from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, October 31st. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Finally, Barclays started coverage on shares of Annaly Capital Management in a research note on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.22.

Annaly Capital Management Stock Up 1.8 %

NLY stock opened at $19.84 on Monday. Annaly Capital Management has a 52 week low of $17.67 and a 52 week high of $21.11. The stock has a market capitalization of $11.12 billion, a PE ratio of -283.36 and a beta of 1.51. The firm has a 50 day moving average of $19.25 and a 200 day moving average of $19.70.

Annaly Capital Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Annaly Capital Management’s dividend payout ratio (DPR) is -3,714.29%.

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently bought and sold shares of NLY. Envestnet Asset Management Inc. increased its holdings in Annaly Capital Management by 7.7% in the second quarter. Envestnet Asset Management Inc. now owns 258,817 shares of the real estate investment trust’s stock valued at $4,933,000 after buying an additional 18,599 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Annaly Capital Management by 60.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 95,913 shares of the real estate investment trust’s stock valued at $1,828,000 after acquiring an additional 36,266 shares during the last quarter. AXA S.A. increased its holdings in shares of Annaly Capital Management by 11.9% in the 2nd quarter. AXA S.A. now owns 68,716 shares of the real estate investment trust’s stock valued at $1,310,000 after acquiring an additional 7,315 shares during the last quarter. APG Asset Management N.V. raised its position in shares of Annaly Capital Management by 428.9% during the 2nd quarter. APG Asset Management N.V. now owns 103,708 shares of the real estate investment trust’s stock worth $1,844,000 after acquiring an additional 84,100 shares in the last quarter. Finally, MBB Public Markets I LLC lifted its stake in Annaly Capital Management by 151.0% during the second quarter. MBB Public Markets I LLC now owns 29,260 shares of the real estate investment trust’s stock worth $558,000 after purchasing an additional 17,602 shares during the last quarter. 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.