Annaly Capital Management’s (NLY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Annaly Capital Management (NYSE:NLY)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $25.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 17.70% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. JonesTrading reaffirmed a “buy” rating and set a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, April 22nd. Argus raised shares of Annaly Capital Management to a “strong-buy” rating in a report on Thursday, February 5th. Finally, UBS Group reaffirmed a “neutral” rating and set a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

Annaly Capital Management Trading Down 0.3%

NLY traded down $0.06 during midday trading on Wednesday, hitting $21.24. 1,913,088 shares of the company traded hands, compared to its average volume of 7,574,052. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 6.57 and a beta of 1.17. Annaly Capital Management has a 52-week low of $18.64 and a 52-week high of $24.52. The business has a 50 day simple moving average of $21.91 and a two-hundred day simple moving average of $22.49.

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

Hedge Funds Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of Annaly Capital Management by 2.3% in the first quarter. Parallel Advisors LLC now owns 34,884 shares of the real estate investment trust’s stock worth $738,000 after buying an additional 787 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Annaly Capital Management by 4.2% in the first quarter. Bank of America Corp DE now owns 2,570,040 shares of the real estate investment trust’s stock worth $54,356,000 after buying an additional 103,739 shares in the last quarter. Strait & Sound Wealth Management LLC lifted its stake in shares of Annaly Capital Management by 9.1% in the first quarter. Strait & Sound Wealth Management LLC now owns 66,261 shares of the real estate investment trust’s stock worth $1,401,000 after buying an additional 5,543 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of Annaly Capital Management by 5.4% in the first quarter. Edgestream Partners L.P. now owns 12,119 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 617 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of Annaly Capital Management by 38.1% in the first quarter. Arkadios Wealth Advisors now owns 40,370 shares of the real estate investment trust’s stock worth $854,000 after buying an additional 11,147 shares in the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.

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.