Brokerages Set Annaly Capital Management, Inc. (NYSE:NLY) Target Price at $21.38

Shares of Annaly Capital Management, Inc. (NYSE:NLY) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $21.50.

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Compass Point increased their target price on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $19.00 to $23.00 in a research report on Friday, September 20th. StockNews.com lowered shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday.

Insider Activity

In other news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.05, for a total value of $1,002,500.00. Following the sale, the chief executive officer now owns 612,469 shares in the company, valued at approximately $12,280,003.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Annaly Capital Management by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 49,300,019 shares of the real estate investment trust’s stock worth $954,941,000 after buying an additional 1,619,729 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Annaly Capital Management by 1.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,449,356 shares of the real estate investment trust’s stock valued at $343,578,000 after purchasing an additional 278,391 shares during the period. Bank of New York Mellon Corp grew its position in shares of Annaly Capital Management by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock valued at $77,996,000 after purchasing an additional 41,069 shares during the period. Algebris UK Ltd grew its position in shares of Annaly Capital Management by 195.9% in the 1st quarter. Algebris UK Ltd now owns 4,034,821 shares of the real estate investment trust’s stock valued at $87,532,000 after purchasing an additional 2,671,236 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Annaly Capital Management by 9.4% in the 1st quarter. Van ECK Associates Corp now owns 1,953,594 shares of the real estate investment trust’s stock valued at $38,466,000 after purchasing an additional 168,068 shares during the period. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Trading Up 0.6 %

Shares of NLY stock opened at $20.28 on Wednesday. The company has a market capitalization of $10.15 billion, a PE ratio of -20.91 and a beta of 1.51. The firm has a fifty day simple moving average of $20.11 and a 200-day simple moving average of $19.73. Annaly Capital Management has a twelve month low of $14.52 and a twelve month high of $21.11.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $318.00 million. During the same period in the prior year, the firm posted $0.72 EPS. Equities research analysts predict that Annaly Capital Management will post 2.66 EPS for the current year.

Annaly Capital Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 12.82%. The ex-dividend date is Monday, September 30th. Annaly Capital Management’s payout ratio is presently -268.04%.

About Annaly Capital Management

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.