Keefe, Bruyette & Woods Boosts Annaly Capital Management (NYSE:NLY) Price Target to $20.50

Annaly Capital Management (NYSE:NLY) had its target price increased by Keefe, Bruyette & Woods from $20.15 to $20.50 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Barclays started coverage on Annaly Capital Management in a research report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research note on Thursday, January 23rd. Finally, Piper Sandler reduced their price objective on shares of Annaly Capital Management from $21.50 to $21.00 and set an “overweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.10.

Annaly Capital Management Trading Down 0.5 %

NYSE NLY opened at $19.32 on Friday. The stock has a 50-day moving average of $19.99 and a 200-day moving average of $19.78. Annaly Capital Management has a 1-year low of $16.60 and a 1-year high of $22.11. The firm has a market cap of $11.54 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 4.89 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The firm had revenue of $186.64 million during the quarter, compared to analyst estimates of $418.04 million. As a group, equities research analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were given a dividend of $0.70 per share. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a yield of 14.49%. The ex-dividend date of this dividend was Monday, March 31st. Annaly Capital Management’s dividend payout ratio (DPR) is 314.61%.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently made changes to their positions in NLY. Victory Capital Management Inc. grew its stake in shares of Annaly Capital Management by 0.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,696,216 shares of the real estate investment trust’s stock worth $34,450,000 after buying an additional 9,965 shares during the last quarter. Signaturefd LLC grew its stake in shares of Annaly Capital Management by 45.5% in the first quarter. Signaturefd LLC now owns 10,253 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 3,208 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Annaly Capital Management during the first quarter valued at $4,016,000. Securian Asset Management Inc. raised its position in shares of Annaly Capital Management by 3.7% in the 1st quarter. Securian Asset Management Inc. now owns 43,925 shares of the real estate investment trust’s stock worth $892,000 after purchasing an additional 1,549 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Annaly Capital Management by 4.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 162,000 shares of the real estate investment trust’s stock worth $3,290,000 after purchasing an additional 6,400 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.