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

Annaly Capital Management (NYSE:NLY) had its target price lifted by analysts at JPMorgan Chase & Co. from $21.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 4.51% from the company’s previous close.

Several other equities analysts also recently issued reports on NLY. Piper Sandler set a $22.50 price objective on Annaly Capital Management and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Annaly Capital Management from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Jones Trading reiterated a “buy” rating and issued a $21.00 price objective on shares of Annaly Capital Management in a research report on Thursday, July 24th. UBS Group lifted their price objective on Annaly Capital Management from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.50.

Annaly Capital Management Trading Down 0.3%

Shares of NLY opened at $21.05 on Monday. The stock has a fifty day moving average price of $21.12 and a two-hundred day moving average price of $19.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. Annaly Capital Management has a 52-week low of $16.59 and a 52-week high of $22.45. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 5.00 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%.The firm had revenue of $273.20 million during the quarter, compared to the consensus estimate of $237.00 million. Analysts predict that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NLY. Inlight Wealth Management LLC acquired a new position in Annaly Capital Management in the first quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new position in Annaly Capital Management in the second quarter valued at about $25,000. Financial Gravity Asset Management Inc. acquired a new position in Annaly Capital Management in the first quarter valued at about $28,000. Delos Wealth Advisors LLC acquired a new position in Annaly Capital Management in the second quarter valued at about $28,000. Finally, Twin Tree Management LP acquired a new position in Annaly Capital Management in the first quarter valued at about $29,000. 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.