Annaly Capital Management (NYSE:NLY) Price Target Cut to $24.00 by Analysts at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its target price trimmed by JPMorgan Chase & Co. from $26.00 to $24.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

NLY has been the topic of a number of other research reports. 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. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 17th. JonesTrading reaffirmed a “buy” rating and set a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Piper Sandler lifted their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock opened at $22.43 on Friday. The company has a market capitalization of $16.43 billion, a PE ratio of 5.62, a P/E/G ratio of 6.69 and a beta of 1.16. The company has a 50-day simple moving average of $22.16 and a two-hundred day simple moving average of $22.46. Annaly Capital Management has a one year low of $20.00 and a one year high of $24.52.

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

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.75 dividend. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio is presently 75.19%.

Institutional Investors Weigh In On Annaly Capital Management

A number of hedge funds have recently modified their holdings of the business. Koshinski Asset Management Inc. raised its holdings in Annaly Capital Management by 1.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock valued at $548,000 after acquiring an additional 463 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in shares of Annaly Capital Management by 2.3% during the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 495 shares during the period. Fourth Dimension Wealth LLC boosted its position in shares of 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 acquiring an additional 500 shares during the last quarter. GWN Securities Inc. boosted its position in shares of Annaly Capital Management by 5.0% during the 4th quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 514 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Annaly Capital Management by 1.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 39,282 shares of the real estate investment trust’s stock valued at $794,000 after acquiring an additional 524 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Key Annaly Capital Management News

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.

About Annaly Capital Management

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.