Annaly Capital Management (NYSE:NLY) Price Target Lowered to $21.00 at JPMorgan Chase & Co.

Annaly Capital Management (NYSE:NLY) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $22.00 to $21.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 5.79% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company raised Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $23.00 in a research note on Friday, September 20th. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. Compass Point raised their target price on Annaly Capital Management from $22.00 to $23.50 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Annaly Capital Management has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock traded up $0.15 on Friday, reaching $19.85. 2,094,431 shares of the stock were exchanged, compared to its average volume of 4,041,137. The firm has a market cap of $10.68 billion, a PE ratio of -14.93 and a beta of 1.51. The firm’s 50 day moving average is $20.10 and its 200-day moving average is $19.74. Annaly Capital Management has a one year low of $14.52 and a one year high of $21.11.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data 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). Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 million. During the same period in the previous year, the company earned $0.66 EPS. On average, equities research analysts expect that Annaly Capital Management will post 2.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.05, for a total value of $1,002,500.00. Following the transaction, the chief executive officer now owns 612,469 shares in the company, valued at $12,280,003.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Annaly Capital Management

A number of hedge funds have recently bought and sold shares of NLY. Sunbelt Securities Inc. grew its position in shares of Annaly Capital Management by 6.0% in the first quarter. Sunbelt Securities Inc. now owns 9,937 shares of the real estate investment trust’s stock valued at $196,000 after purchasing an additional 562 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Annaly Capital Management by 5.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,234 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 1,769 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Annaly Capital Management in the 1st quarter worth about $37,000. MCF Advisors LLC purchased a new position in shares of Annaly Capital Management in the 1st quarter worth about $44,000. Finally, State of Michigan Retirement System boosted its holdings in shares of Annaly Capital Management by 2.1% in the 1st quarter. State of Michigan Retirement System now owns 137,031 shares of the real estate investment trust’s stock worth $2,698,000 after purchasing an additional 2,800 shares in the last quarter. 51.56% of the stock is currently 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.