Brokerages Set Annaly Capital Management, Inc. (NYSE:NLY) Price Target at $21.44

Annaly Capital Management, Inc. (NYSE:NLY) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.44.

Several brokerages recently commented on NLY. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of Annaly Capital Management from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays began coverage on Annaly Capital Management in a report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Annaly Capital Management in a report on Monday, February 10th.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in Annaly Capital Management by 209.9% in the 3rd quarter. Avior Wealth Management LLC now owns 1,255 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 850 shares during the last quarter. Assetmark Inc. acquired a new position in Annaly Capital Management in the fourth quarter valued at $31,000. Blue Trust Inc. increased its stake in Annaly Capital Management by 78.5% in the fourth quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 717 shares during the last quarter. Larson Financial Group LLC increased its stake in Annaly Capital Management by 34.4% in the fourth 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. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Annaly Capital Management during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Price Performance

NLY opened at $21.79 on Friday. The business has a 50 day simple moving average of $20.61 and a 200-day simple moving average of $20.00. The stock has a market capitalization of $12.60 billion, a P/E ratio of 13.71, a P/E/G ratio of 4.89 and a beta of 1.53. Annaly Capital Management has a 12 month low of $17.67 and a 12 month high of $22.11.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS 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%. Research analysts anticipate that Annaly Capital Management will post 2.81 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.85%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s payout ratio is currently 176.10%.

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.