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

Annaly Capital Management (NYSE:NLY) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $20.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.58% from the company’s current price.

Several other equities research analysts also recently commented on NLY. Argus upgraded shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, October 31st. Barclays initiated coverage on Annaly Capital Management in a research report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price target for the company. 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, Annaly Capital Management has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.

Annaly Capital Management Stock Up 0.8 %

Shares of NYSE:NLY opened at $19.31 on Tuesday. The firm has a 50 day moving average of $19.26 and a 200 day moving average of $19.69. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of -275.79 and a beta of 1.51. Annaly Capital Management has a 52 week low of $17.67 and a 52 week high of $21.11.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. On average, sell-side analysts expect that Annaly Capital Management will post 2.65 EPS for the current year.

Institutional Trading of Annaly Capital Management

A number of hedge funds and other institutional investors have recently modified their holdings of NLY. Avior Wealth Management LLC lifted its holdings in Annaly Capital Management by 209.9% in the third quarter. Avior Wealth Management LLC now owns 1,255 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 850 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Annaly Capital Management by 70.2% in 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 last quarter. Quarry LP purchased a new position in shares of Annaly Capital Management during the 2nd quarter worth $36,000. Toth Financial Advisory Corp increased its position in shares of Annaly Capital Management by 31.8% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,390 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 576 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in Annaly Capital Management by 68.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 2,962 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 1,200 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

About Annaly Capital Management

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.