JPMorgan Chase & Co. Has Lowered Expectations for Annaly Capital Management (NYSE:NLY) Stock Price

Annaly Capital Management (NYSE:NLY) had its price target trimmed by JPMorgan Chase & Co. from $21.00 to $19.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

NLY has been the topic of a number of other reports. Barclays started coverage on shares of Annaly Capital Management in a research note on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Annaly Capital Management in a research note on Monday, February 10th. Finally, JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus target price of $21.07.

Annaly Capital Management Trading Down 1.6 %

Shares of Annaly Capital Management stock opened at $17.67 on Wednesday. Annaly Capital Management has a twelve month low of $16.60 and a twelve month high of $22.11. The firm’s 50-day moving average price is $20.57 and its 200 day moving average price is $19.86. The firm has a market capitalization of $10.56 billion, a PE ratio of 11.11, a P/E/G ratio of 4.89 and a beta of 1.31.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. On average, sell-side analysts predict that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 15.85%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s payout ratio is currently 176.10%.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in Annaly Capital Management by 78.5% during the 4th quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 717 shares during the period. Assetmark Inc. acquired a new stake in Annaly Capital Management during the 4th quarter worth approximately $31,000. Larson Financial Group LLC grew its stake in shares of Annaly Capital Management by 34.4% in the 4th quarter. Larson Financial Group LLC now owns 2,143 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 549 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Annaly Capital Management during the fourth quarter worth approximately $39,000. Finally, Smartleaf Asset Management LLC raised its position in Annaly Capital Management by 29.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,425 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 549 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

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.