Annaly Capital Management (NYSE:NLY) Price Target Raised to $19.50

Key Points

• JPMorgan raised Annaly Capital Management’s price target from $19.00 to $19.50 and maintained an “overweight” rating, implying 5.62% upside. Analysts collectively rate NLY “Moderate Buy,” with a consensus target of $22.11.
• Annaly exceeded quarterly earnings expectations, reporting $0.80 in earnings per share versus the $0.77 consensus estimate, while revenue reached approximately $1.93 billion.
• Despite stronger distributable earnings, the company reported a $1.00 billion GAAP net loss, declining book value of $17.86 per share, and higher leverage of 8.0 times, highlighting balance-sheet and investment risks.

Annaly Capital Management (NYSE:NLY - Get Free Report) had its target price upped by stock analysts at JPMorgan Chase & Co. from $19.00 to $19.50 in a report released on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.62% from the stock's current price.

NLY has been the subject of a number of other research reports. Piper Sandler cut their price target on shares of Annaly Capital Management from $25.00 to $21.50 and set an "overweight" rating for the company in a report on Friday, October 9th. Barclays set a $21.00 price target on shares of Annaly Capital Management in a research report on Thursday. Zacks Research cut shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. BTIG Research set a $21.00 price objective on shares of Annaly Capital Management and gave the company a "buy" rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Annaly Capital Management in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management presently has an average rating of "Moderate Buy" and a consensus target price of $22.11.

Annaly Capital Management Trading Up 2.5%

NLY stock opened at $18.46 on Thursday. The firm has a market capitalization of $13.91 billion, a PE ratio of 12.83, a PEG ratio of 1.44 and a beta of 1.21. Annaly Capital Management has a 1-year low of $17.70 and a 1-year high of $24.52. The business's 50 day simple moving average is $21.01 and its 200 day simple moving average is $21.85.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $637.41 million. Annaly Capital Management had a net margin of 15.52% and a return on equity of 16.48%. As a group, sell-side analysts predict that Annaly Capital Management will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC grew its holdings in Annaly Capital Management by 585.6% during the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 1,136 shares during the last quarter. Markowski Investments acquired a new position in shares of Annaly Capital Management during the second quarter worth $37,000. Fourth Dimension Wealth LLC grew its stake in shares of Annaly Capital Management by 30.3% in the second quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 500 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Annaly Capital Management in the first quarter worth $70,000. Finally, Bessemer Group Inc. grew its stake in shares of Annaly Capital Management by 42.6% in the first quarter. Bessemer Group Inc. now owns 3,699 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 1,105 shares during the last quarter. Institutional investors own 51.56% of the company's stock.

More Annaly Capital Management News

Here are the key news stories impacting Annaly Capital Management this week:

• Positive Sentiment: Annaly reported third-quarter earnings available for distribution of $0.80 per share, exceeding the $0.77 analyst consensus and rising from $0.73 a year earlier. Net interest income also increased to $543.6 million from $488.2 million in the prior quarter. Annaly Capital Management Surpasses Q3 Earnings Estimates
• Positive Sentiment: The company maintained its quarterly common dividend at $0.75 per share. Management also highlighted $5.8 billion in third-quarter Onslow Bay funding volume, supporting its mortgage-finance and residential-credit businesses. Annaly Capital Three Key Takeaways for Long-Term Investors
• Neutral Sentiment: Management characterized the operating environment as difficult but expressed confidence in the portfolio and business strategy during the earnings call. The earnings release showed revenue of approximately $1.93 billion, well above the reported consensus estimate, although revenue comparisons can be less meaningful for a mortgage REIT. Annaly Capital Management Navigates Tough Quarter Confidently
• Negative Sentiment: Annaly posted a $1.00 billion GAAP net loss, or $1.36 per share, largely because of a $4.72 billion loss on investments and other items. Book value per share declined to $17.86, close to the stock’s recent trading level, which may weigh on investor confidence despite the stronger distributable earnings. Annaly Reports Third-Quarter Net Loss
• Negative Sentiment: GAAP leverage increased to 8.0 times from 7.4 times in the prior quarter, adding balance-sheet risk. JonesTrading also lowered its price target from $25 to $21, although it retained a Buy rating. JonesTrading Lowers Annaly Price Target

About Annaly Capital Management

Annaly Capital Management, Inc is a diversified capital manager and mortgage real estate investment trust listed on the New York Stock Exchange under the symbol NLY. The company primarily invests in and manages residential mortgage-related assets, seeking to generate income through interest-rate spreads, financing, and portfolio management.

Annaly's investment activities have historically focused on agency mortgage-backed securities, which are backed by federally sponsored entities or government agencies.

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