Wells Fargo & Company Lowers Annaly Capital Management (NYSE:NLY) Price Target to $24.00

Annaly Capital Management (NYSE:NLY) had its target price cut by Wells Fargo & Company from $25.00 to $24.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.02% from the stock’s current price.

NLY has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th. JonesTrading restated a “buy” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. UBS Group reiterated 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. Finally, JPMorgan Chase & Co. lifted their price target on Annaly Capital Management from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One equities research 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 stock. Based on data from MarketBeat.com, Annaly Capital Management has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.

Annaly Capital Management Trading Up 0.5%

Shares of NLY stock opened at $22.43 on Thursday. The firm has a fifty day simple moving average of $22.16 and a two-hundred day simple moving average of $22.46. Annaly Capital Management has a 12 month low of $20.00 and a 12 month high of $24.52. The firm has a market capitalization of $16.43 billion, a PE ratio of 5.62, a price-to-earnings-growth ratio of 6.69 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $892.86 million during the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. On average, equities analysts predict that Annaly Capital Management will post 3.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NLY. AQR Capital Management LLC boosted its holdings in Annaly Capital Management by 111.8% in the 1st quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust’s stock worth $1,154,000 after buying an additional 29,978 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Annaly Capital Management by 39.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 4,205 shares in the last quarter. Millennium Management LLC increased its position in shares of Annaly Capital Management by 17.4% during the first quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust’s stock valued at $11,003,000 after buying an additional 80,481 shares during the period. NewEdge Advisors LLC increased its position in shares of Annaly Capital Management by 20.8% during the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 3,074 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Annaly Capital Management by 833.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock worth $59,318,000 after purchasing an additional 2,607,784 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors.

Annaly Capital Management News Roundup

Here are the key news stories impacting Annaly Capital Management this week:

• Positive Sentiment: Annaly’s Q2 results and earnings-call commentary pointed to strong momentum, with management highlighting diversified housing finance growth across Agency securities, Residential Credit, and MSR opportunities, along with disciplined capital allocation. The company also reported strong profitability and a 5.5% economic return, which can help reassure investors about earnings durability. Annaly Q2 Earnings Call Highlights Housing Finance Strategy
• Positive Sentiment: Several reports said Annaly’s earnings available for distribution topped its dividend for a ninth straight quarter, and that rising EAD is supporting another dividend increase. For a high-yield mortgage REIT like NLY, this is important because it suggests the payout may remain well covered. Annaly Capital Management’s EAD Topped Its Dividend for a 9th Straight Quarter. Here’s Why That Matters for Its 12.5%+ Yielding Payout.
• Positive Sentiment: Annaly also raised its quarterly dividend to $0.75 and signaled attractive 14%–16% levered return potential in agency assets, reinforcing the stock’s appeal to income investors. Annaly signals agency 14%-16% levered return opportunity as it raises quarterly dividend to $0.75
• Neutral Sentiment: JPMorgan and Wells Fargo both lowered their price targets to $24 from higher levels, but kept overweight ratings. That suggests analysts still see upside in NLY, but are somewhat more cautious on valuation and near-term expectations. Analyst price target updates from JPMorgan and Wells Fargo
• Neutral Sentiment: Other coverage framed Annaly as a strong-yield, discounted valuation story, which supports the stock’s income-investor case but does not introduce a major new catalyst. Annaly Capital Management’s EAD Topped Its Dividend for a 9th Straight Quarter. Here’s Why That Matters for Its 12.5%+ Yielding Payout.

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.