JPMorgan Chase & Co. Lowers Annaly Capital Management (NYSE:NLY) Price Target to $20.00

Annaly Capital Management (NYSE:NLY) had its price objective decreased by JPMorgan Chase & Co. from $21.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 0.45% from the stock’s previous close.

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

Annaly Capital Management Trading Up 0.4 %

Annaly Capital Management stock traded up $0.07 during trading on Monday, hitting $19.91. 2,767,075 shares of the company were exchanged, compared to its average volume of 4,285,177. The business’s 50 day moving average is $19.65 and its 200 day moving average is $19.84. Annaly Capital Management has a 52 week low of $17.67 and a 52 week high of $21.11. The company has a market capitalization of $11.16 billion, a P/E ratio of -284.43 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $212.00 million. During the same quarter in the prior year, the company earned $0.66 EPS. Equities analysts expect that Annaly Capital Management will post 2.65 EPS for the current year.

Institutional Trading of Annaly Capital Management

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in Annaly Capital Management by 16.2% during the third quarter. Franklin Resources Inc. now owns 92,039 shares of the real estate investment trust’s stock valued at $1,820,000 after purchasing an additional 12,809 shares during the last quarter. Tidal Investments LLC raised its position in shares of Annaly Capital Management by 11.7% during the 3rd quarter. Tidal Investments LLC now owns 13,204 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,385 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Annaly Capital Management during the 3rd quarter worth $114,000. Virtu Financial LLC purchased a new position in Annaly Capital Management in the third quarter worth $879,000. Finally, McIlrath & Eck LLC purchased a new stake in Annaly Capital Management during the third quarter valued at about $63,000. Hedge funds and other 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.