Annaly Capital Management (NYSE:NLY) Price Target Raised to $22.00

Annaly Capital Management (NYSE:NLY) had its target price lifted by Royal Bank of Canada from $21.00 to $22.00 in a research note published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

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

Annaly Capital Management Price Performance

NYSE NLY opened at $19.80 on Monday. The company has a market cap of $11.10 billion, a P/E ratio of -282.79 and a beta of 1.51. The stock has a 50-day moving average of $19.26 and a two-hundred day moving average of $19.70. Annaly Capital Management has a 1-year low of $17.67 and a 1-year high of $21.11.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. On average, analysts anticipate that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 13.13%. Annaly Capital Management’s dividend payout ratio (DPR) is presently -3,714.29%.

Hedge Funds Weigh In On Annaly Capital Management

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC increased its holdings in Annaly Capital Management by 209.9% during the 3rd quarter. Avior Wealth Management LLC now owns 1,255 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 850 shares during the last quarter. UMB Bank n.a. boosted its position in Annaly Capital Management by 70.2% during the 3rd quarter. UMB Bank n.a. now owns 1,568 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 647 shares during the period. Blue Trust Inc. boosted its position in Annaly Capital Management by 78.5% during the 4th quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 717 shares during the period. Quarry LP acquired a new position in Annaly Capital Management during the 2nd quarter worth $36,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Annaly Capital Management by 31.8% in the third quarter. Toth Financial Advisory Corp now owns 2,390 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 576 shares during the period. 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.