Royal Bank Of Canada Forecasts Strong Price Appreciation for Annaly Capital Management (NYSE:NLY) Stock

Annaly Capital Management (NYSE:NLY) had its price objective hoisted by equities researchers at Royal Bank Of Canada from $23.00 to $25.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 8.39% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Jones Trading raised their price objective on shares of Annaly Capital Management from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Wells Fargo & Company reiterated an “overweight” rating and set a $25.00 price objective (up previously from $23.00) on shares of Annaly Capital Management in a research report on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. BTIG Research upgraded shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Annaly Capital Management from $23.25 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.11.

Annaly Capital Management Stock Up 0.1%

Shares of NYSE NLY traded up $0.02 during midday trading on Thursday, hitting $23.07. 3,591,561 shares of the company’s stock were exchanged, compared to its average volume of 8,850,869. The firm has a market capitalization of $15.75 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 7.08 and a beta of 1.24. Annaly Capital Management has a 12 month low of $16.59 and a 12 month high of $24.52. The company’s 50 day moving average price is $23.08 and its 200 day moving average price is $21.82.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $567.67 million. On average, equities research analysts anticipate that Annaly Capital Management will post 2.81 EPS for the current year.

Hedge Funds Weigh In On Annaly Capital Management

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Annaly Capital Management during the 2nd quarter worth approximately $130,626,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Annaly Capital Management by 394.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,374,696 shares of the real estate investment trust’s stock valued at $108,623,000 after purchasing an additional 4,286,893 shares in the last quarter. Vanguard Group Inc. lifted its stake in Annaly Capital Management by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock worth $1,422,401,000 after purchasing an additional 3,024,564 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Annaly Capital Management in the 4th quarter valued at $63,699,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Annaly Capital Management by 833.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock worth $59,318,000 after buying an additional 2,607,784 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Annaly Capital Management Company Profile

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.