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

Annaly Capital Management (NYSE:NLY) had its price target upped by JPMorgan Chase & Co. from $24.00 to $26.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.93% from the company’s previous close.

Several other research analysts also recently commented on the stock. UBS Group reaffirmed a “neutral” rating and issued a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a research note on Friday, April 24th. BTIG Research set a $24.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 17th. JonesTrading reaffirmed a “buy” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Annaly Capital Management Stock Down 1.7%

Shares of Annaly Capital Management stock opened at $23.02 on Friday. The stock’s fifty day moving average is $22.12 and its two-hundred day moving average is $22.46. Annaly Capital Management has a 52 week low of $19.70 and a 52 week high of $24.52. The company has a market capitalization of $16.87 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 6.98 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $341.56 million during the quarter, compared to the consensus estimate 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, research analysts anticipate that Annaly Capital Management will post 3.02 earnings per share for the current year.

Institutional Trading of Annaly Capital Management

A number of hedge funds have recently bought and sold shares of NLY. AIA Group Ltd lifted its stake in Annaly Capital Management by 124.8% during the 3rd quarter. AIA Group Ltd now owns 159,118 shares of the real estate investment trust’s stock valued at $3,216,000 after acquiring an additional 88,341 shares during the period. Horizon Investments LLC acquired a new stake in shares of Annaly Capital Management in the fourth quarter worth $7,946,000. Vanguard Group Inc. raised its holdings in shares of Annaly Capital Management by 5.0% during 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 during the last quarter. Legal & General Group Plc raised its holdings in shares of Annaly Capital Management by 3.9% during the fourth quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after purchasing an additional 74,074 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Annaly Capital Management by 165.4% during the fourth quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock valued at $7,514,000 after purchasing an additional 209,435 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.