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

Annaly Capital Management (NYSE:NLY) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $21.00 to $20.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 0.93% from the company’s previous close.

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

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock opened at $19.82 on Monday. The company has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $19.84. Annaly Capital Management has a 52-week low of $17.67 and a 52-week high of $21.11. The stock has a market capitalization of $11.11 billion, a PE ratio of -283.07 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY) last issued 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). The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $212.00 million. Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, equities research analysts forecast that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently bought and sold shares of NLY. Citigroup Inc. raised its stake in Annaly Capital Management by 22.6% during the 3rd quarter. Citigroup Inc. now owns 652,255 shares of the real estate investment trust’s stock valued at $13,091,000 after purchasing an additional 120,163 shares during the period. Victory Capital Management Inc. boosted its position in shares of Annaly Capital Management by 7.4% during the third quarter. Victory Capital Management Inc. now owns 2,002,975 shares of the real estate investment trust’s stock worth $40,200,000 after acquiring an additional 138,320 shares during the last quarter. Clarity Financial LLC purchased a new position in Annaly Capital Management during the third quarter valued at $6,687,000. PGGM Investments lifted its stake in Annaly Capital Management by 152.0% in the 2nd quarter. PGGM Investments now owns 428,406 shares of the real estate investment trust’s stock worth $8,165,000 after purchasing an additional 258,388 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Annaly Capital Management by 213.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,310 shares of the real estate investment trust’s stock valued at $1,130,000 after purchasing an additional 38,361 shares during the last quarter. 51.56% of the stock is owned by institutional investors.

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.