Annaly Capital Management (NYSE:NLY) Price Target Cut to $21.00 by Analysts at JonesTrading

Annaly Capital Management (NYSE:NLY) had its price objective decreased by investment analysts at JonesTrading from $25.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. JonesTrading’s target price would indicate a potential upside of 16.76% from the stock’s previous close.

Several other research firms also recently commented on NLY. Wells Fargo & Company dropped their target price on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Tuesday, October 6th. BTIG Research set a $21.00 price objective on Annaly Capital Management and gave the company a “buy” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Annaly Capital Management currently has an average rating of “Moderate Buy” and a consensus target price of $23.17.

Annaly Capital Management Stock Performance

Shares of NLY traded down $0.30 during trading hours on Wednesday, reaching $17.98. The stock had a trading volume of 16,030,700 shares, compared to its average volume of 8,367,094. Annaly Capital Management has a 12 month low of $17.70 and a 12 month high of $24.52. The stock has a market capitalization of $13.56 billion, a PE ratio of 4.51, a PEG ratio of 1.39 and a beta of 1.21. The company’s 50-day moving average is $21.11 and its two-hundred day moving average is $21.88.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $637.41 million. Equities analysts anticipate that Annaly Capital Management will post 3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HUB Investment Partners LLC increased its stake in shares of Annaly Capital Management by 3.3% in the second quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 462 shares during the period. Quadcap Wealth Management LLC raised its position in shares of Annaly Capital Management by 2.3% during the first 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 last quarter. Fourth Dimension Wealth LLC lifted its stake in shares of Annaly Capital Management by 30.3% in the second quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 500 shares during the period. Strs Ohio lifted its stake in shares of Annaly Capital Management by 3.3% in the first quarter. Strs Ohio now owns 16,920 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 548 shares during the period. Finally, Sigma Planning Corp boosted its holdings in Annaly Capital Management by 2.4% in the second quarter. Sigma Planning Corp now owns 25,979 shares of the real estate investment trust’s stock valued at $581,000 after acquiring an additional 606 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Annaly Capital Management

Here are the key news stories impacting Annaly Capital Management this week:

• Positive Sentiment: Underlying earnings exceeded expectations: Third-quarter earnings available for distribution were $0.80 per share, above the $0.77 consensus estimate and up from $0.73 a year earlier. Net interest income also increased to $543.6 million from $488.2 million in the prior quarter. Annaly Q3 earnings beat
• Positive Sentiment: Dividend remained substantial: Annaly declared a quarterly common-stock dividend of $0.75 per share, below its $0.80 distribution earnings but supporting the stock’s income appeal. Annaly third-quarter results
• Positive Sentiment: Onslow Bay continued to expand: The business generated $5.8 billion in quarterly funding volume, providing a potential growth driver and diversification benefit for long-term investors. Annaly long-term investor takeaways
• Neutral Sentiment: Results were mixed: Revenue was reported at approximately $1.93 billion, while analysts had expected $637.4 million, but the headline figures were affected by investment and derivative valuation changes. The earnings beat therefore provides a better view of operating performance than GAAP net income alone.
• Negative Sentiment: Large GAAP loss and book-value decline are weighing on sentiment: Annaly reported a third-quarter net loss of about $1.00 billion, or $1.36 per share. Total other loss was $1.63 billion, including a $4.72 billion investment loss partly offset by a $3.07 billion derivatives gain. Book value per share was $17.86, below the stock’s recent trading level. Annaly third-quarter net loss
• Negative Sentiment: Leverage increased: GAAP leverage rose to 8.0 times from 7.4 times in the prior quarter, increasing sensitivity to interest rates, funding costs and changes in mortgage-asset valuations.

About Annaly Capital Management

Annaly Capital Management, Inc is a diversified capital manager and mortgage real estate investment trust listed on the New York Stock Exchange under the symbol NLY. The company primarily invests in and manages residential mortgage-related assets, seeking to generate income through interest-rate spreads, financing, and portfolio management.

Annaly’s investment activities have historically focused on agency mortgage-backed securities, which are backed by federally sponsored entities or government agencies.