Annaly Capital Management (NYSE:NLY) Price Target Raised to $26.00

Annaly Capital Management (NYSE:NLY) had its price target hoisted by JPMorgan Chase & Co. from $24.00 to $26.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. BTIG Research set a $24.00 target price on Annaly Capital Management in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Wall Street Zen upgraded shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, JonesTrading restated a “buy” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, April 22nd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.67.

Annaly Capital Management Price Performance

Shares of NYSE:NLY opened at $23.02 on Friday. Annaly Capital Management has a 1 year low of $19.70 and a 1 year high of $24.52. The company has a market cap of $16.87 billion, a PE ratio of 7.78, a P/E/G ratio of 6.93 and a beta of 1.16. The stock’s 50-day moving average is $22.12 and its 200 day moving average is $22.46.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $595.27 million. Analysts expect that Annaly Capital Management will post 3.02 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.75 per share. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. Annaly Capital Management’s dividend payout ratio (DPR) is currently 101.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in Annaly Capital Management in the fourth quarter worth $162,477,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 worth $108,623,000 after purchasing an additional 4,286,893 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 worth $1,422,401,000 after purchasing an additional 3,024,564 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Annaly Capital Management during the fourth quarter valued at $63,699,000. Finally, Goldman Sachs Group Inc. lifted its position in Annaly Capital Management by 833.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock valued at $59,318,000 after buying an additional 2,607,784 shares during the period. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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.