Annaly Capital Management (NYSE:NLY) Price Target Raised to $23.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has increased its price target for Annaly Capital Management (NYSE:NLY) from $21.00 to $23.00, indicating a potential upside of 3.88% from the current stock price.
• Annaly reported $0.73 earnings per share (EPS) for the latest quarter, surpassing the consensus estimate of $0.72, with revenues of $273.20 million compared to expectations of $237.00 million.
• The stock has a consensus rating of "Moderate Buy" among analysts, with seven analysts rating it as a Buy and four as a Hold.

Annaly Capital Management (NYSE:NLY - Get Free Report) had its target price boosted by equities research analysts at Royal Bank Of Canada from $21.00 to $23.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price suggests a potential upside of 3.88% from the stock's current price.

A number of other brokerages have also weighed in on NLY. Jones Trading restated a "buy" rating and set a $21.00 price objective on shares of Annaly Capital Management in a research report on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price on Annaly Capital Management from $20.50 to $21.50 and gave the stock an "outperform" rating in a report on Friday, July 25th. Zacks Research downgraded Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, UBS Group lifted their target price on Annaly Capital Management from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.06.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $22.14 on Monday. The stock has a market capitalization of $14.22 billion, a PE ratio of 21.82, a P/E/G ratio of 5.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. The business has a fifty day moving average price of $20.72 and a two-hundred day moving average price of $19.97. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $22.45.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%.The company had revenue of $273.20 million for the quarter, compared to analyst estimates of $237.00 million. As a group, equities analysts predict that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Institutional Trading of Annaly Capital Management

Large investors have recently bought and sold shares of the company. Jupiter Wealth Management LLC boosted its holdings in shares of Annaly Capital Management by 3.4% in the fourth quarter. Jupiter Wealth Management LLC now owns 15,035 shares of the real estate investment trust's stock worth $275,000 after acquiring an additional 492 shares during the period. Guidance Point Advisors LLC boosted its holdings in shares of Annaly Capital Management by 3.1% in the first quarter. Guidance Point Advisors LLC now owns 17,049 shares of the real estate investment trust's stock worth $346,000 after acquiring an additional 519 shares during the period. Quadcap Wealth Management LLC boosted its holdings in shares of Annaly Capital Management by 2.9% in the second quarter. Quadcap Wealth Management LLC now owns 20,367 shares of the real estate investment trust's stock worth $383,000 after acquiring an additional 572 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Annaly Capital Management by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 71,328 shares of the real estate investment trust's stock worth $1,350,000 after acquiring an additional 611 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Annaly Capital Management by 6.3% in the second quarter. Rafferty Asset Management LLC now owns 10,538 shares of the real estate investment trust's stock worth $198,000 after acquiring an additional 623 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, 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.

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