Annaly Capital Management (NYSE:NLY) Receives “Outperform” Rating from Royal Bank Of Canada

Annaly Capital Management (NYSE:NLY)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 17.70% from the stock’s current price.

NLY has been the subject of several other research reports. Argus raised shares of Annaly Capital Management to a “strong-buy” rating in a research report on Thursday, February 5th. JonesTrading reaffirmed a “buy” rating and issued a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. UBS Group reaffirmed a “neutral” rating and issued a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Annaly Capital Management from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Annaly Capital Management Stock Performance

Annaly Capital Management stock traded down $0.06 during trading hours on Wednesday, hitting $21.24. The company had a trading volume of 1,913,088 shares, compared to its average volume of 7,574,052. The firm has a market cap of $15.56 billion, a P/E ratio of 7.18, a P/E/G ratio of 6.57 and a beta of 1.17. Annaly Capital Management has a 1 year low of $18.64 and a 1 year high of $24.52. The company has a 50-day moving average price of $21.91 and a two-hundred day moving average price of $22.49.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The company had revenue of $341.56 million during the quarter, compared to analysts’ expectations of $595.27 million. As a group, equities research analysts anticipate that Annaly Capital Management will post 2.98 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AIA Group Ltd boosted its holdings in Annaly Capital Management by 124.8% during the third quarter. AIA Group Ltd now owns 159,118 shares of the real estate investment trust’s stock worth $3,216,000 after buying an additional 88,341 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Annaly Capital Management by 3.2% during the third quarter. Vanguard Group Inc. now owns 60,589,075 shares of the real estate investment trust’s stock worth $1,224,505,000 after buying an additional 1,887,629 shares in the last quarter. Horizon Investments LLC purchased a new stake in Annaly Capital Management during the fourth quarter worth $7,946,000. Brevan Howard Capital Management LP boosted its holdings in Annaly Capital Management by 105.4% during the third quarter. Brevan Howard Capital Management LP now owns 275,484 shares of the real estate investment trust’s stock worth $5,568,000 after buying an additional 141,384 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Annaly Capital Management by 48.0% during the third quarter. Citigroup Inc. now owns 865,055 shares of the real estate investment trust’s stock worth $17,483,000 after buying an additional 280,645 shares in the last quarter. 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.