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

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

A number of other research analysts have also recently 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 research report on Thursday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Barclays initiated coverage on shares of Annaly Capital Management in a research report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price target on shares of 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Annaly Capital Management Stock Performance

Shares of NLY opened at $19.80 on Monday. The company’s fifty day moving average is $19.26 and its 200 day moving average is $19.70. Annaly Capital Management has a fifty-two week low of $17.67 and a fifty-two week high of $21.11. The stock has a market capitalization of $11.10 billion, a PE ratio of -282.79 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. As a group, research analysts forecast that Annaly Capital Management will post 2.65 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

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

Hedge Funds Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Clarity Capital Partners LLC increased its holdings in Annaly Capital Management by 59.9% in the 4th quarter. Clarity Capital Partners LLC now owns 17,204 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 6,444 shares during the period. Values First Advisors Inc. lifted its position in shares of Annaly Capital Management by 5.5% during the 4th quarter. Values First Advisors Inc. now owns 30,324 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 1,575 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Annaly Capital Management by 0.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 18,099,719 shares of the real estate investment trust’s stock valued at $332,665,000 after buying an additional 109,655 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Annaly Capital Management by 12.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 155,600 shares of the real estate investment trust’s stock valued at $2,847,000 after buying an additional 16,700 shares in the last quarter. Finally, International Private Wealth Advisors LLC purchased a new position in Annaly Capital Management in the 4th quarter valued at $231,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

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.