Annaly Capital Management (NYSE:NLY) Price Target Raised to $22.00 at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $21.00 to $22.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 8.48% from the company’s current price.

Several other equities analysts also recently commented on NLY. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $19.00 to $23.00 in a research note on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Compass Point lifted their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Annaly Capital Management Stock Up 0.6 %

Shares of NLY stock opened at $20.28 on Thursday. Annaly Capital Management has a 12-month low of $14.52 and a 12-month high of $21.11. The company has a market capitalization of $10.15 billion, a PE ratio of -20.91 and a beta of 1.51. The firm has a 50 day moving average price of $20.11 and a two-hundred day moving average price of $19.73.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $318.00 million. During the same period last year, the firm posted $0.72 EPS. As a group, research analysts expect that Annaly Capital Management will post 2.66 EPS for the current year.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the transaction, the chief executive officer now owns 612,469 shares of the company’s stock, valued at approximately $12,280,003.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in shares of Annaly Capital Management during the 1st quarter valued at approximately $29,000. UMB Bank n.a. boosted its position in Annaly Capital Management by 70.2% in the third quarter. UMB Bank n.a. now owns 1,568 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 647 shares in the last quarter. Quarry LP bought a new stake in shares of Annaly Capital Management during the second quarter worth $36,000. Register Financial Advisors LLC acquired a new position in shares of Annaly Capital Management during the first quarter worth $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Annaly Capital Management by 107.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.