Annaly Capital Management (NYSE:NLY) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods has raised the target price for Annaly Capital Management from $20.50 to $21.50, indicating a potential upside of 4.29% from its previous close.
• Multiple analysts have issued mixed ratings, with four giving hold ratings and eight assigning buy ratings, resulting in a consensus rating of "Moderate Buy" and an average target price of $21.00.
• Annaly Capital Management reported earnings of $0.73 per share, exceeding expectations, with revenue of $273.20 million for the quarter.

Annaly Capital Management (NYSE:NLY - Get Free Report) had its target price boosted by Keefe, Bruyette & Woods from $20.50 to $21.50 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 4.29% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler reduced their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Jones Trading reaffirmed a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a research note on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group reaffirmed a "neutral" rating and issued a $20.00 price target (up previously from $18.00) on shares of Annaly Capital Management in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada cut their target price on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Annaly Capital Management Trading Up 0.3%

Shares of NLY opened at $20.62 on Friday. Annaly Capital Management has a twelve month low of $16.59 and a twelve month high of $22.11. The company has a market cap of $12.32 billion, a P/E ratio of 20.42, a P/E/G ratio of 4.49 and a beta of 1.22. The company's fifty day simple moving average is $19.36 and its 200-day simple moving average is $19.75.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.77%. The business had revenue of $273.20 million for the quarter, compared to the consensus estimate of $237.00 million. Analysts predict that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors have recently bought and sold shares of the business. Apollon Wealth Management LLC purchased a new position in shares of Annaly Capital Management during the 2nd quarter valued at approximately $303,000. Aberdeen Group plc grew its stake in Annaly Capital Management by 9.8% in the 2nd quarter. Aberdeen Group plc now owns 373,565 shares of the real estate investment trust's stock valued at $6,988,000 after acquiring an additional 33,293 shares during the period. IFP Advisors Inc grew its stake in Annaly Capital Management by 15.8% in the 2nd quarter. IFP Advisors Inc now owns 8,770 shares of the real estate investment trust's stock valued at $176,000 after acquiring an additional 1,194 shares during the period. Columbus Macro LLC grew its stake in Annaly Capital Management by 11.9% in the 2nd quarter. Columbus Macro LLC now owns 377,476 shares of the real estate investment trust's stock valued at $7,104,000 after acquiring an additional 40,164 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in Annaly Capital Management by 10.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 29,061 shares of the real estate investment trust's stock valued at $547,000 after acquiring an additional 2,865 shares during the period. 51.56% of the stock is owned by hedge funds and other 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.

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