Annaly Capital Management (NYSE:NLY) Given New $24.00 Price Target at JPMorgan Chase & Co.

by · The Markets Daily

Annaly Capital Management (NYSE:NLY – Get Free Report) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $26.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 6.83% from the company’s current price.

NLY has been the topic of a number of other research reports. Wells Fargo & Company cut their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th. UBS Group restated a “neutral” rating and set a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Piper Sandler increased their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Check Out Our Latest Analysis on Annaly Capital Management

Annaly Capital Management Stock Performance

Shares of NYSE NLY traded up $0.15 during trading hours on Friday, hitting $22.46. The stock had a trading volume of 3,378,392 shares, compared to its average volume of 7,645,728. The company has a market capitalization of $16.46 billion, a P/E ratio of 5.63, a P/E/G ratio of 6.72 and a beta of 1.16. The firm’s 50-day moving average price is $22.15 and its two-hundred day moving average price is $22.46. Annaly Capital Management has a 52 week low of $20.00 and a 52 week high of $24.52.

Annaly Capital Management (NYSE:NLY – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. The firm had revenue of $892.86 million for the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. As a group, analysts expect that Annaly Capital Management will post 3.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC lifted its stake in shares of Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 500 shares during the period. Root Financial Partners LLC raised its holdings in Annaly Capital Management by 585.6% in the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,136 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Annaly Capital Management in the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Annaly Capital Management in the 4th quarter worth approximately $31,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Annaly Capital Management by 361.3% during the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,178 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Company Profile

(Get Free Report)

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.

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