Royal Bank of Canada Forecasts Strong Price Appreciation for Annaly Capital Management (NYSE:NLY) Stock

Annaly Capital Management (NYSE:NLY) had its price target boosted by equities research analysts at Royal Bank of Canada from $21.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.51% from the company’s previous close.

Several other analysts also recently commented on NLY. Barclays began coverage on shares of Annaly Capital Management in a research report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective on the stock. Argus upgraded shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Thursday, October 31st. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their target price on Annaly Capital Management from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

Annaly Capital Management Trading Up 0.3 %

Annaly Capital Management stock opened at $19.91 on Monday. Annaly Capital Management has a 12 month low of $17.67 and a 12 month high of $21.11. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of -284.40 and a beta of 1.51. The business’s fifty day simple moving average is $19.25 and its two-hundred day simple moving average is $19.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in shares of Annaly Capital Management in the 4th quarter worth approximately $706,000. Empowered Funds LLC purchased a new position in shares of Annaly Capital Management during the 4th quarter worth $297,000. Moloney Securities Asset Management LLC increased its stake in shares of Annaly Capital Management by 10.4% in the 4th quarter. Moloney Securities Asset Management LLC now owns 15,070 shares of the real estate investment trust’s stock worth $276,000 after purchasing an additional 1,424 shares in the last quarter. Triasima Portfolio Management inc. bought a new position in Annaly Capital Management in the 4th quarter worth $183,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Annaly Capital Management by 33.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,491 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 12,037 shares during the period. 51.56% of the stock is owned by hedge funds and other institutional investors.

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.