JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Annaly Capital Management (NYSE:NLY) Stock

Annaly Capital Management (NYSE:NLY) had its target price upped by analysts at JPMorgan Chase & Co. from $24.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.05% from the company’s current price.

A number of other analysts have also weighed in on NLY. Royal Bank Of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. BTIG Research set a $24.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. JonesTrading reiterated a “buy” rating and issued a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, April 22nd. 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 analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Annaly Capital Management has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $23.41 on Friday. The business’s 50 day moving average is $22.11 and its two-hundred day moving average is $22.46. Annaly Capital Management has a 1-year low of $19.53 and a 1-year high of $24.52. The stock has a market capitalization of $17.16 billion, a P/E ratio of 7.91, a PEG ratio of 7.03 and a beta of 1.16.

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 during the quarter, compared to analyst estimates of $595.27 million. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%. As a group, equities research analysts anticipate that Annaly Capital Management will post 3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

Hedge funds and other institutional investors have recently modified their holdings of the business. Fourth Dimension Wealth LLC raised its stake in Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 500 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Annaly Capital Management during the 4th quarter valued at $29,000. Root Financial Partners LLC increased its holdings in shares of Annaly Capital Management by 585.6% in the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 1,136 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Annaly Capital Management in the 4th quarter valued at $31,000. Finally, TD Private Client Wealth LLC raised its position in shares of Annaly Capital Management by 361.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,178 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors.

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.