Annaly Capital Management (NYSE:NLY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Annaly Capital Management (NYSE:NLYGet Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $23.00 to $24.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.99% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Argus raised shares of Annaly Capital Management to a “strong-buy” rating in a research report on Thursday, February 5th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $25.00 price objective (up from $23.00) on shares of Annaly Capital Management in a research report on Thursday, January 29th. BTIG Research raised Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, January 6th. Wall Street Zen downgraded Annaly Capital Management from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Barclays set a $24.00 price objective on Annaly Capital Management and gave the stock an “equal weight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.00.

Read Our Latest Analysis on NLY

Annaly Capital Management Stock Performance

NLY stock traded down $0.20 during mid-day trading on Thursday, reaching $22.43. The company had a trading volume of 2,770,148 shares, compared to its average volume of 8,059,158. The firm has a fifty day simple moving average of $22.23 and a 200 day simple moving average of $22.30. The company has a market capitalization of $16.12 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 7.02 and a beta of 1.23. Annaly Capital Management has a fifty-two week low of $18.43 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLYGet Free Report) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $341.56 million for the quarter, compared to analyst estimates of $595.27 million. Annaly Capital Management had a net margin of 34.33% and a return on equity of 16.33%. As a group, analysts predict that Annaly Capital Management will post 2.93 earnings per share for the current year.

Insider Buying and Selling at Annaly Capital Management

In other news, CFO Serena Wolfe sold 16,536 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $23.14, for a total transaction of $382,643.04. Following the transaction, the chief financial officer directly owned 173,081 shares in the company, valued at $4,005,094.34. The trade was a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven Francis Campbell sold 26,491 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total transaction of $604,789.53. Following the transaction, the chief operating officer directly owned 178,000 shares of the company’s stock, valued at $4,063,740. This represents a 12.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 71,252 shares of company stock valued at $1,639,995. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently made changes to their positions in NLY. Fourth Dimension Wealth LLC boosted its holdings in Annaly Capital Management by 76.9% during the fourth 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 in the last quarter. Camelot Portfolios LLC acquired a new stake in Annaly Capital Management in the fourth quarter valued at $29,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Annaly Capital Management in the fourth quarter valued at $31,000. TD Private Client Wealth LLC increased its position in shares of Annaly Capital Management by 361.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,178 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of 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 last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Annaly Capital Management

Here are the key news stories impacting Annaly Capital Management this week:

About Annaly Capital Management

(Get Free Report)

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.

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Analyst Recommendations for Annaly Capital Management (NYSE:NLY)

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