Piper Sandler Increases Annaly Capital Management (NYSE:NLY) Price Target to $25.00

Annaly Capital Management (NYSE:NLY) had its price target boosted by equities research analysts at Piper Sandler from $24.50 to $25.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 12.49% from the company’s previous close.

NLY has been the subject of a number of other reports. JPMorgan Chase & Co. increased their target price on Annaly Capital Management from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. JonesTrading restated a “buy” rating and issued a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.44.

Annaly Capital Management Trading Down 0.6%

NYSE:NLY opened at $22.23 on Thursday. The business’s 50-day moving average is $22.07 and its 200 day moving average is $22.45. Annaly Capital Management has a 12 month low of $19.01 and a 12 month high of $24.52. The company has a market capitalization of $16.29 billion, a P/E ratio of 7.51, a P/E/G ratio of 6.83 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The business had revenue of $341.56 million during the quarter, compared to analysts’ expectations of $595.27 million. On average, research analysts forecast that Annaly Capital Management will post 2.98 earnings per share for the current year.

Institutional Trading of Annaly Capital Management

Several hedge funds and other institutional investors have recently bought and sold shares of NLY. Norges Bank purchased a new position in Annaly Capital Management during the fourth quarter worth $162,477,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Annaly Capital Management by 394.1% in 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 acquiring an additional 4,286,893 shares during the period. Vanguard Group Inc. raised its stake in shares of Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Annaly Capital Management in the 4th quarter worth about $63,699,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Annaly Capital Management by 833.6% in 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 acquiring an additional 2,607,784 shares during the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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.