JPMorgan Chase & Co. Has Lowered Expectations for Annaly Capital Management (NYSE:NLY) Stock Price

Annaly Capital Management (NYSE:NLY) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $21.00 to $19.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 6.17% from the company’s previous close.

A number of other research firms have also weighed in on NLY. Keefe, Bruyette & Woods lowered their price target on shares of Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Annaly Capital Management in a research report on Monday, February 10th. Finally, Barclays initiated coverage on 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.07.

Annaly Capital Management Trading Up 1.5 %

NYSE:NLY opened at $17.90 on Wednesday. The stock has a 50 day moving average of $20.52 and a two-hundred day moving average of $19.84. Annaly Capital Management has a 12 month low of $16.60 and a 12 month high of $22.11. The firm has a market cap of $10.69 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 4.89 and a beta of 1.31.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS for the quarter, beating the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. On average, research analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current year.

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. acquired a new position in Annaly Capital Management in the fourth quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Annaly Capital Management by 78.5% in the 4th quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 717 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Annaly Capital Management by 34.4% during the 4th quarter. Larson Financial Group LLC now owns 2,143 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 549 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in Annaly Capital Management in the 4th quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC increased its holdings in Annaly Capital Management by 29.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,425 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 549 shares during the last quarter. 51.56% of the stock is currently 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.