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

Annaly Capital Management (NYSE:NLY) had its target price lowered by JPMorgan Chase & Co. from $21.00 to $19.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on NLY. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research note on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. 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 for the company. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and eight have assigned 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 $21.07.

Annaly Capital Management Trading Up 1.5 %

Shares of NYSE NLY opened at $17.90 on Wednesday. The company has a 50-day moving average of $20.46 and a two-hundred day moving average of $19.83. The company has a market cap of $10.69 billion, a PE ratio of 11.25, a P/E/G ratio of 4.89 and a beta of 1.31. Annaly Capital Management has a 1-year low of $16.60 and a 1-year high of $22.11.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results 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 20.70% and a return on equity of 14.95%. As a group, equities research analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 15.65%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s payout ratio is presently 176.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Annaly Capital Management by 12.0% in the 4th quarter. Vanguard Group Inc. now owns 54,721,696 shares of the real estate investment trust’s stock worth $1,001,407,000 after purchasing an additional 5,859,104 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Annaly Capital Management by 31.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,426,571 shares of the real estate investment trust’s stock valued at $630,007,000 after buying an additional 8,272,674 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Annaly Capital Management by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,099,719 shares of the real estate investment trust’s stock worth $332,665,000 after acquiring an additional 109,655 shares in the last quarter. Geode Capital Management LLC boosted its stake in Annaly Capital Management by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 9,453,133 shares of the real estate investment trust’s stock valued at $172,706,000 after purchasing an additional 814,917 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Annaly Capital Management by 90.6% during the fourth quarter. Northern Trust Corp now owns 7,587,581 shares of the real estate investment trust’s stock valued at $138,853,000 after purchasing an additional 3,606,366 shares during the period. 51.56% of the stock is currently 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.