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

Annaly Capital Management (NYSE:NLY) had its price objective hoisted by JPMorgan Chase & Co. from $21.00 to $22.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on NLY. Compass Point upped their target price on shares of Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $23.00 in a research report on Friday, September 20th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Finally, StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Annaly Capital Management Stock Up 0.6 %

NLY stock opened at $20.28 on Thursday. The business’s 50-day moving average price is $20.11 and its 200-day moving average price is $19.73. The stock has a market cap of $10.15 billion, a P/E ratio of -20.91 and a beta of 1.51. Annaly Capital Management has a twelve month low of $14.52 and a twelve month high of $21.11.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $318.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts expect that Annaly Capital Management will post 2.66 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 12.82%. The ex-dividend date is Monday, September 30th. Annaly Capital Management’s payout ratio is presently -268.04%.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the transaction, the chief executive officer now directly owns 612,469 shares in the company, valued at approximately $12,280,003.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Annaly Capital Management

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Annaly Capital Management by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 49,300,019 shares of the real estate investment trust’s stock worth $954,941,000 after acquiring an additional 1,619,729 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Annaly Capital Management by 29.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 26,900 shares of the real estate investment trust’s stock valued at $539,000 after purchasing an additional 6,191 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in Annaly Capital Management during the 4th quarter valued at $522,000. CWM LLC lifted its position in Annaly Capital Management by 138.8% in the first quarter. CWM LLC now owns 12,158 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 7,067 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Annaly Capital Management during the first quarter worth $29,000. 51.56% of the stock is currently owned by institutional investors.

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.