JPMorgan Chase & Co. Lowers Annaly Capital Management (NYSE:NLY) Price Target to $19.00

Annaly Capital Management (NYSE:NLY) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $19.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.83% from the company’s previous close.

NLY has been the topic of a number of other research reports. Barclays initiated coverage on shares of Annaly Capital Management in a research note on Monday, January 6th. They set an “equal weight” rating and a $19.00 target price on the stock. Argus upgraded 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.11.

Annaly Capital Management Stock Down 0.7 %

NYSE:NLY opened at $19.36 on Tuesday. The firm has a market capitalization of $10.85 billion, a PE ratio of -276.50 and a beta of 1.51. Annaly Capital Management has a twelve month low of $17.67 and a twelve month high of $21.11. The stock’s 50-day simple moving average is $19.26 and its 200 day simple moving average is $19.69.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.66 earnings per share. On average, analysts anticipate that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of Annaly Capital Management by 7.7% during the second quarter. Envestnet Asset Management Inc. now owns 258,817 shares of the real estate investment trust’s stock worth $4,933,000 after buying an additional 18,599 shares during the period. Renaissance Technologies LLC raised its position in shares of Annaly Capital Management by 3.8% in the 2nd quarter. Renaissance Technologies LLC now owns 581,215 shares of the real estate investment trust’s stock worth $11,078,000 after acquiring an additional 21,200 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Annaly Capital Management by 6.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,058 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 2,010 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Annaly Capital Management by 40.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 130,044 shares of the real estate investment trust’s stock valued at $2,479,000 after purchasing an additional 37,130 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Annaly Capital Management by 13.0% during the 2nd quarter. Sei Investments Co. now owns 875,593 shares of the real estate investment trust’s stock valued at $16,688,000 after purchasing an additional 100,940 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

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.