Annaly Capital Management (NYSE:NLY) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 0.45% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Argus raised Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $19.00 to $23.00 in a report on Friday, September 20th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Annaly Capital Management Trading Up 0.4 %

Shares of NYSE:NLY traded up $0.07 during trading on Monday, reaching $19.91. 2,767,075 shares of the company traded hands, compared to its average volume of 4,285,177. Annaly Capital Management has a 52-week low of $17.67 and a 52-week high of $21.11. The business’s fifty day moving average is $19.65 and its 200-day moving average is $19.84. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of -284.43 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $212.00 million. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts predict that Annaly Capital Management will post 2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

Several institutional investors and hedge funds have recently modified their holdings of NLY. SG Americas Securities LLC grew its position in Annaly Capital Management by 81.1% during the 2nd quarter. SG Americas Securities LLC now owns 253,802 shares of the real estate investment trust’s stock valued at $4,837,000 after purchasing an additional 113,666 shares during the last quarter. Wedmont Private Capital raised its holdings in Annaly Capital Management by 7.0% in the 2nd quarter. Wedmont Private Capital now owns 20,440 shares of the real estate investment trust’s stock worth $417,000 after acquiring an additional 1,334 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Annaly Capital Management by 38.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 47,291 shares of the real estate investment trust’s stock valued at $901,000 after acquiring an additional 13,057 shares in the last quarter. ORG Partners LLC purchased a new stake in Annaly Capital Management during the 2nd quarter valued at $349,000. Finally, Key Client Fiduciary Advisors LLC increased its holdings in shares of Annaly Capital Management by 1.2% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 140,624 shares of the real estate investment trust’s stock worth $2,680,000 after purchasing an additional 1,682 shares in the last quarter. 51.56% of the stock is currently owned by institutional investors.

Annaly Capital Management Company Profile

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.