Annaly Capital Management (NYSE:NLY) Given New $23.00 Price Target at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 3.49% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen cut Annaly Capital Management from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. JonesTrading lifted their price target on Annaly Capital Management from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Argus raised Annaly Capital Management to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on Annaly Capital Management from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.89.

Annaly Capital Management Trading Down 1.8%

Shares of NYSE NLY traded down $0.42 during mid-day trading on Thursday, hitting $22.23. The company had a trading volume of 2,824,861 shares, compared to its average volume of 8,186,576. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 6.89 and a beta of 1.23. Annaly Capital Management has a 1 year low of $17.39 and a 1 year high of $24.52. The stock’s 50-day moving average price is $22.25 and its 200-day moving average price is $22.23.

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 for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $567.67 million. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%. As a group, equities research analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current year.

Insider Buying and Selling at Annaly Capital Management

In related news, COO Steven Francis Campbell sold 26,491 shares of Annaly Capital Management stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total transaction of $604,789.53. Following the completion of the sale, the chief operating officer owned 178,000 shares of the company’s stock, valued at approximately $4,063,740. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Serena Wolfe sold 16,536 shares of Annaly Capital Management stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $23.14, for a total value of $382,643.04. Following the sale, the chief financial officer directly owned 173,081 shares of the company’s stock, valued at approximately $4,005,094.34. This trade represents a 8.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,252 shares of company stock valued at $1,639,995 in the last three months. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annaly Capital Management

Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its holdings in shares of Annaly Capital Management by 23.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 236,839 shares of the real estate investment trust’s stock worth $5,311,000 after buying an additional 45,001 shares during the period. Audent Global Asset Management LLC purchased a new position in shares of Annaly Capital Management in the fourth quarter worth about $2,039,000. SHP Wealth Management purchased a new position in shares of Annaly Capital Management in the fourth quarter worth about $43,000. S Harris Financial Group LLC purchased a new position in shares of Annaly Capital Management in the fourth quarter worth about $222,000. Finally, SG Trading Solutions LLC purchased a new position in shares of Annaly Capital Management in the fourth quarter worth about $1,339,000. 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.