JPMorgan Chase & Co. Cuts Annaly Capital Management (NYSE:NLY) Price Target to $23.00

Annaly Capital Management (NYSE:NLY) had its target price decreased by JPMorgan Chase & Co. from $25.00 to $23.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reduced their price target on shares of Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $25.00 price target (up from $23.00) on shares of Annaly Capital Management in a research note on Thursday, January 29th. Keefe, Bruyette & Woods raised their price target on shares of Annaly Capital Management from $23.25 to $25.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Royal Bank Of Canada raised their price target on shares of Annaly Capital Management from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Barclays set a $24.00 price target on shares of Annaly Capital Management and gave the company an “equal weight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.89.

Annaly Capital Management Stock Up 3.0%

NLY stock opened at $22.81 on Thursday. Annaly Capital Management has a 12 month low of $17.39 and a 12 month high of $24.52. The firm has a market cap of $16.38 billion, a P/E ratio of 8.20, a P/E/G ratio of 6.88 and a beta of 1.23. The company’s 50-day moving average price is $22.23 and its two-hundred day moving average price is $22.26.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a net margin of 34.02% and a return on equity of 15.80%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $567.67 million. Equities analysts predict that Annaly Capital Management will post 2.81 EPS for the current year.

Annaly Capital Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Tuesday, March 31st. Annaly Capital Management’s dividend payout ratio (DPR) is presently 100.72%.

Insider Buying and Selling

In other news, COO Steven Francis Campbell sold 26,491 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $22.83, for a total value of $604,789.53. Following the sale, the chief operating officer directly owned 178,000 shares in the company, valued at approximately $4,063,740. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Serena Wolfe sold 16,536 shares of Annaly Capital Management stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $23.14, for a total transaction of $382,643.04. Following the sale, the chief financial officer owned 173,081 shares in the company, valued at approximately $4,005,094.34. This represents a 8.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 71,252 shares of company stock worth $1,639,995. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds have recently added to or reduced their stakes in NLY. Fourth Dimension Wealth LLC boosted its position in Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 500 shares during the period. Camelot Portfolios LLC acquired a new stake in Annaly Capital Management during the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. acquired a new stake in Annaly Capital Management during the 4th quarter worth approximately $31,000. TD Private Client Wealth LLC boosted its position in Annaly Capital Management by 361.3% during the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,178 shares during the period. Finally, MCF Advisors LLC boosted its position in Annaly Capital Management by 41.6% during the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 496 shares during the period. 51.56% of the stock is currently owned by institutional investors and hedge funds.

About Annaly Capital Management

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.