Annaly Capital Management (NYSE:NLY) Stock Price Target Cut by Piper Sandler

Key Points

• Piper Sandler cut Annaly Capital Management’s price target from $25.00 to $21.50 while maintaining an “overweight” rating, implying roughly 18% upside from the $18.20 share price.
• Analyst sentiment remains favorable overall: Annaly has a consensus “Moderate Buy” rating and an average price target of $23.61, despite several recent target reductions.
• Annaly reported quarterly EPS of $0.79, beating the $0.75 consensus estimate; institutional investors own approximately 51.56% of the company’s stock.

Annaly Capital Management (NYSE:NLY - Get Free Report) had its price objective decreased by investment analysts at Piper Sandler from $25.00 to $21.50 in a research report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price target would indicate a potential upside of 18.16% from the stock's current price.

A number of other equities research analysts have also issued reports on the company. Zacks Research lowered Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Annaly Capital Management in a research note on Tuesday. BTIG Research set a $21.00 price objective on shares of Annaly Capital Management and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, July 24th. Finally, Wells Fargo & Company decreased their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating on the stock in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.61.

Annaly Capital Management Stock Down 0.4%

Annaly Capital Management stock traded down $0.07 during trading hours on Friday, hitting $18.20. The stock had a trading volume of 3,852,673 shares, compared to its average volume of 8,233,452. The stock has a market capitalization of $13.71 billion, a P/E ratio of 4.56, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. Annaly Capital Management has a 12-month low of $17.76 and a 12-month high of $24.52. The stock's 50-day moving average price is $21.85 and its 200-day moving average price is $22.04.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $639.80 million. On average, research analysts expect that Annaly Capital Management will post 3.09 EPS for the current fiscal year.

Institutional Trading of Annaly Capital Management

Several institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its holdings in shares of 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 valued at $28,000 after buying an additional 1,136 shares during the period. Markowski Investments acquired a new position in Annaly Capital Management during the 2nd quarter valued at about $37,000. SHP Wealth Management acquired a new position in shares of Annaly Capital Management during the fourth quarter valued at approximately $43,000. Fourth Dimension Wealth LLC lifted its stake in Annaly Capital Management by 30.3% during the second quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 500 shares during the last quarter. Finally, Gould Capital LLC boosted its holdings in shares of Annaly Capital Management by 38.2% in the fourth quarter. Gould Capital LLC now owns 2,245 shares of the real estate investment trust's stock worth $50,000 after buying an additional 621 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 is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company's primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.

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