Piper Sandler Cuts Annaly Capital Management (NYSE:NLY) Price Target to $22.00

Annaly Capital Management (NYSE:NLY) had its target price cut by Piper Sandler from $25.00 to $22.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. Barclays set a $24.00 price objective on Annaly Capital Management and gave the company an “equal weight” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods raised their target price on shares of Annaly Capital Management from $23.25 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Argus upgraded shares of Annaly Capital Management to a “strong-buy” rating in a research report on Thursday, February 5th. BTIG Research raised shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $25.00 price objective (up from $23.00) on shares of Annaly Capital Management in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Annaly Capital Management Stock Performance

Shares of NLY stock opened at $21.38 on Thursday. The stock’s 50-day moving average is $22.49 and its two-hundred day moving average is $22.19. Annaly Capital Management has a 1 year low of $16.59 and a 1 year high of $24.52. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 6.57 and a beta of 1.23.

Annaly Capital Management (NYSE:NLY) last posted its 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate 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, research analysts predict that Annaly Capital Management will post 2.81 EPS for the current year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.80 annualized dividend and a yield of 13.1%. Annaly Capital Management’s payout ratio is presently 100.72%.

Insider Buying and Selling

In related news, CFO Serena Wolfe sold 16,536 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $23.14, for a total transaction of $382,643.04. Following the sale, the chief financial officer owned 173,081 shares in the company, valued at approximately $4,005,094.34. This trade represents a 8.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Steven Francis Campbell sold 28,225 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $23.12, for a total value of $652,562.00. Following the completion of the transaction, the chief operating officer owned 204,491 shares of the company’s stock, valued at $4,727,831.92. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,252 shares of company stock valued at $1,639,995. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Annaly Capital Management

Several institutional investors have recently added to or reduced their stakes in NLY. Koshinski Asset Management Inc. raised its stake in Annaly Capital Management by 1.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after purchasing an additional 463 shares during the period. ProShare Advisors LLC lifted its position in shares of Annaly Capital Management by 1.8% during the third quarter. ProShare Advisors LLC now owns 27,309 shares of the real estate investment trust’s stock worth $552,000 after purchasing an additional 481 shares in the last quarter. MCF Advisors LLC boosted its position in Annaly Capital Management by 41.6% in the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 496 shares during the last quarter. Fourth Dimension Wealth LLC grew its stake in Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Finally, GWN Securities Inc. increased its stake in shares of Annaly Capital Management by 5.0% in the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 514 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

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.