Annaly Capital Management (NYSE:NLY) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

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

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Annaly Capital Management in a report on Monday, February 10th. Keefe, Bruyette & Woods decreased their price target on Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Finally, Barclays started coverage on shares of Annaly Capital Management in a report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and an average target price of $21.07.

Annaly Capital Management Stock Down 1.6 %

Shares of NYSE NLY opened at $17.67 on Wednesday. The company has a market cap of $10.56 billion, a PE ratio of 11.11, a PEG ratio of 4.89 and a beta of 1.31. The firm’s 50-day moving average price is $20.57 and its 200-day moving average price is $19.86. Annaly Capital Management has a 52-week low of $16.60 and a 52-week high of $22.11.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. As a group, equities research analysts anticipate that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.70 per share. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 15.85%. Annaly Capital Management’s dividend payout ratio is presently 176.10%.

Institutional Trading of Annaly Capital Management

Institutional investors have recently made changes to their positions in the business. Ritholtz Wealth Management grew its holdings in shares of Annaly Capital Management by 13.0% during the first quarter. Ritholtz Wealth Management now owns 23,721 shares of the real estate investment trust’s stock valued at $482,000 after buying an additional 2,726 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Annaly Capital Management by 10.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 14,282 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 1,320 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Annaly Capital Management by 6.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 51,591 shares of the real estate investment trust’s stock valued at $1,048,000 after acquiring an additional 2,903 shares during the period. GraniteShares Advisors LLC increased its stake in shares of Annaly Capital Management by 6.5% in the first quarter. GraniteShares Advisors LLC now owns 143,639 shares of the real estate investment trust’s stock worth $2,917,000 after acquiring an additional 8,710 shares during the period. Finally, Fifth Third Bancorp lifted its position in Annaly Capital Management by 11.3% during the first quarter. Fifth Third Bancorp now owns 9,808 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 994 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.