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

Annaly Capital Management (NYSE:NLY) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.58% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Argus upgraded shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, October 31st. Barclays assumed 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.11.

Annaly Capital Management Stock Performance

Shares of NLY stock opened at $19.31 on Tuesday. The stock has a market capitalization of $10.82 billion, a P/E ratio of -275.79 and a beta of 1.51. Annaly Capital Management has a fifty-two week low of $17.67 and a fifty-two week high of $21.11. The company has a 50 day moving average price of $19.26 and a 200 day moving average price of $19.69.

Annaly Capital Management (NYSE:NLY) last posted 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 company 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 in the prior year, the company posted $0.66 EPS. On average, research analysts forecast that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Annaly Capital Management by 7.7% during the second quarter. Envestnet Asset Management Inc. now owns 258,817 shares of the real estate investment trust’s stock worth $4,933,000 after buying an additional 18,599 shares during the period. Renaissance Technologies LLC raised its stake in Annaly Capital Management by 3.8% during the 2nd quarter. Renaissance Technologies LLC now owns 581,215 shares of the real estate investment trust’s stock valued at $11,078,000 after acquiring an additional 21,200 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Annaly Capital Management by 6.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,058 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 2,010 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Annaly Capital Management by 40.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 130,044 shares of the real estate investment trust’s stock valued at $2,479,000 after purchasing an additional 37,130 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Annaly Capital Management by 13.0% in the second quarter. Sei Investments Co. now owns 875,593 shares of the real estate investment trust’s stock valued at $16,688,000 after purchasing an additional 100,940 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.