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

Annaly Capital Management (NYSE:NLY) had its price objective trimmed by JPMorgan Chase & Co. from $20.00 to $19.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on NLY. 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. Barclays began coverage on Annaly Capital Management in a research note on Monday, January 6th. They issued an “equal weight” rating and a $19.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average price target of $21.11.

Annaly Capital Management Trading Down 0.0 %

Shares of NLY stock opened at $19.35 on Tuesday. Annaly Capital Management has a 12-month low of $17.67 and a 12-month high of $21.11. The stock has a market capitalization of $10.84 billion, a P/E ratio of -276.39 and a beta of 1.51. The firm’s 50 day moving average is $19.25 and its 200 day moving average is $19.69.

Annaly Capital Management (NYSE:NLY) last posted its quarterly 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). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $212.00 million. Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, equities analysts predict that Annaly Capital Management will post 2.65 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.44%. Annaly Capital Management’s payout ratio is currently -3,714.29%.

Institutional Investors Weigh In On Annaly Capital Management

Institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its stake in Annaly Capital Management by 7.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 258,817 shares of the real estate investment trust’s stock worth $4,933,000 after purchasing an additional 18,599 shares during the last quarter. Renaissance Technologies LLC raised its stake in Annaly Capital Management by 3.8% during the second quarter. Renaissance Technologies LLC now owns 581,215 shares of the real estate investment trust’s stock worth $11,078,000 after purchasing an additional 21,200 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Annaly Capital Management by 6.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,058 shares of the real estate investment trust’s stock valued at $668,000 after purchasing an additional 2,010 shares during the last quarter. 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 buying an additional 37,130 shares during the period. Finally, Sei Investments Co. raised its position in shares of Annaly Capital Management by 13.0% during the 2nd quarter. Sei Investments Co. now owns 875,593 shares of the real estate investment trust’s stock valued at $16,688,000 after buying an additional 100,940 shares during the period. 51.56% of the stock is currently 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.