Annaly Capital Management (NYSE:NLY) Price Target Cut to $21.00 by Analysts at JPMorgan Chase & Co.

26 Oct 2024, 15:48 by Mitch Edgeman · The Markets Daily

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

Several other equities research analysts have also recently commented on NLY. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Compass Point raised their price objective on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $23.00 in a report on Friday, September 20th. Finally, StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.38.

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Annaly Capital Management Stock Performance

Shares of NYSE NLY traded down $0.21 during trading hours on Friday, hitting $19.49. The company’s stock had a trading volume of 5,521,665 shares, compared to its average volume of 4,057,654. Annaly Capital Management has a 12 month low of $14.52 and a 12 month high of $21.11. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of -14.64 and a beta of 1.51. The business has a 50-day simple moving average of $20.09 and a 200-day simple moving average of $19.74.

Annaly Capital Management (NYSE:NLY – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 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 $0.66 earnings per share. On average, equities research analysts forecast that Annaly Capital Management will post 2.67 EPS for the current year.

Annaly Capital Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 13.34%. The ex-dividend date is Monday, September 30th. Annaly Capital Management’s dividend payout ratio (DPR) is -195.49%.

Insider Activity

In other Annaly Capital Management news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 612,469 shares in the company, valued at approximately $12,280,003.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Annaly Capital Management

Several institutional investors have recently added to or reduced their stakes in NLY. J.W. Cole Advisors Inc. lifted its holdings in shares of Annaly Capital Management by 44.9% during the third quarter. J.W. Cole Advisors Inc. now owns 71,234 shares of the real estate investment trust’s stock valued at $1,430,000 after purchasing an additional 22,060 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Annaly Capital Management by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 58,209 shares of the real estate investment trust’s stock valued at $1,168,000 after acquiring an additional 3,950 shares during the period. MCF Advisors LLC boosted its holdings in shares of Annaly Capital Management by 94.2% during the 3rd quarter. MCF Advisors LLC now owns 4,219 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 2,047 shares during the last quarter. PFG Investments LLC grew its stake in shares of Annaly Capital Management by 3.0% in the third quarter. PFG Investments LLC now owns 107,059 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 3,130 shares during the period. Finally, Forsta AP Fonden raised its holdings in shares of Annaly Capital Management by 14.0% during the third quarter. Forsta AP Fonden now owns 346,800 shares of the real estate investment trust’s stock valued at $6,960,000 after purchasing an additional 42,700 shares during the last quarter. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Company Profile

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