JPMorgan Chase & Co. Issues Pessimistic Forecast for Annaly Capital Management (NYSE:NLY) Stock Price

Annaly Capital Management (NYSE:NLY) had its price target lowered by JPMorgan Chase & Co. from $21.00 to $20.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

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

Annaly Capital Management Price Performance

Shares of NLY opened at $19.89 on Monday. Annaly Capital Management has a one year low of $17.67 and a one year high of $21.11. The company’s fifty day moving average price is $19.64 and its 200 day moving average price is $19.84. The company has a market capitalization of $11.15 billion, a PE ratio of -284.07 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $212.00 million. During the same period in the prior year, the business earned $0.66 earnings per share. Analysts anticipate that Annaly Capital Management will post 2.65 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 13.08%. The ex-dividend date is Tuesday, December 31st. Annaly Capital Management’s dividend payout ratio is -3,714.29%.

Hedge Funds Weigh In On Annaly Capital Management

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Annaly Capital Management by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,990,064 shares of the real estate investment trust’s stock valued at $361,061,000 after purchasing an additional 1,342,056 shares during the last quarter. State Street Corp lifted its holdings in shares of Annaly Capital Management by 1.3% in the 3rd quarter. State Street Corp now owns 17,400,024 shares of the real estate investment trust’s stock valued at $360,296,000 after buying an additional 223,294 shares during the period. Geode Capital Management LLC boosted its position in Annaly Capital Management by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 8,638,216 shares of the real estate investment trust’s stock worth $172,988,000 after purchasing an additional 241,465 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Annaly Capital Management by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 4,092,118 shares of the real estate investment trust’s stock worth $77,996,000 after buying an additional 41,069 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Annaly Capital Management by 531.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,981,081 shares of the real estate investment trust’s stock valued at $79,900,000 after purchasing an additional 3,350,435 shares during the period. Institutional investors own 51.56% of the company’s stock.

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.