Keefe, Bruyette & Woods Increases Annaly Capital Management (NYSE:NLY) Price Target to $21.50

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 - Free Report) had its target price upped by Keefe, Bruyette & Woods from $20.50 to $21.50 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust's stock.

Other equities research analysts also recently issued 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 restated a "buy" rating and issued a $21.00 price objective on shares of Annaly Capital Management in a report on Thursday, July 24th. JPMorgan Chase & Co. lowered their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. UBS Group restated a "neutral" rating and set a $20.00 price objective (up previously from $18.00) on shares of Annaly Capital Management in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reduced their price objective on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.72.

Annaly Capital Management Stock Performance

NLY stock traded up $0.12 during midday trading on Friday, hitting $20.80. 2,383,527 shares of the stock traded hands, compared to its average volume of 7,910,800. The firm has a market cap of $12.43 billion, a P/E ratio of 20.58, a PEG ratio of 4.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.10. The stock's fifty day simple moving average is $19.40 and its 200-day simple moving average is $19.80. Annaly Capital Management has a 1-year low of $16.59 and a 1-year high of $22.11.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The business had revenue of $273.20 million during the quarter, compared to analysts' expectations of $237.00 million. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. On average, analysts expect that Annaly Capital Management will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.46%. The ex-dividend date of this dividend is Monday, June 30th. Annaly Capital Management's payout ratio is currently 277.23%.

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds have recently added to or reduced their stakes in the business. Inlight Wealth Management LLC bought a new stake in Annaly Capital Management in the first quarter valued at $25,000. Financial Gravity Asset Management Inc. bought a new stake in Annaly Capital Management in the first quarter worth about $28,000. Twin Tree Management LP bought a new stake in Annaly Capital Management in the first quarter worth about $29,000. Smallwood Wealth Investment Management LLC purchased a new position in Annaly Capital Management in the 1st quarter worth about $36,000. Finally, MCF Advisors LLC increased its stake in Annaly Capital Management by 1,087.1% in the 1st quarter. MCF Advisors LLC now owns 1,745 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 1,598 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company's stock.

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.