Annaly Capital Management (NYSE:NLY) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Annaly Capital Management (NYSE:NLY) had its price target boosted by analysts at Royal Bank Of Canada from $23.00 to $25.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 8.39% from the company’s previous close.

Several other equities research analysts have also recently commented on NLY. Keefe, Bruyette & Woods boosted their price objective on shares of Annaly Capital Management from $23.25 to $25.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Barclays set a $24.00 price target on Annaly Capital Management and gave the company an “equal weight” rating in a research note on Friday, January 30th. Jones Trading upped their price objective on Annaly Capital Management from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $25.00 price objective (up from $23.50) on shares of Annaly Capital Management in a report on Thursday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.11.

Annaly Capital Management Stock Up 0.1%

Shares of NLY traded up $0.02 on Thursday, hitting $23.07. The company’s stock had a trading volume of 3,591,561 shares, compared to its average volume of 8,850,869. The firm’s fifty day moving average price is $23.08 and its 200-day moving average price is $21.82. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $24.52. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 7.08 and a beta of 1.24.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $567.67 million. Annaly Capital Management had a net margin of 34.02% and a return on equity of 15.80%. As a group, equities analysts predict that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Gravity Companies Inc. bought a new position in shares of Annaly Capital Management in the second quarter valued at $25,000. Fourth Dimension Wealth LLC lifted its stake in Annaly Capital Management by 76.9% in the fourth 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. Delos Wealth Advisors LLC bought a new position in shares of Annaly Capital Management in the 2nd quarter valued at about $28,000. Evolution Wealth Management Inc. bought a new position in shares of Annaly Capital Management in the 2nd quarter valued at about $29,000. Finally, Camelot Portfolios LLC acquired a new position in shares of Annaly Capital Management during the 4th quarter worth about $29,000. Institutional investors own 51.56% of the company’s stock.

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.