Royal Bank of Canada Has Lowered Expectations for Annaly Capital Management (NYSE:NLY) Stock Price

Annaly Capital Management (NYSE:NLY - Free Report) had its price target lowered by Royal Bank of Canada from $22.00 to $21.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust's stock.

A number of other research firms have also weighed in on NLY. Piper Sandler cut their target price on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price target on Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods raised their price target on Annaly Capital Management from $20.15 to $20.50 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Jones Trading restated a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.00.

Annaly Capital Management Stock Performance

NLY traded down $0.22 during trading on Tuesday, reaching $18.96. 18,871,415 shares of the company traded hands, compared to its average volume of 6,469,107. Annaly Capital Management has a 12-month low of $16.60 and a 12-month high of $22.11. The firm has a fifty day simple moving average of $19.05 and a 200 day simple moving average of $19.75. The company has a market cap of $11.33 billion, a P/E ratio of 11.92, a PEG ratio of 4.89 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. The firm had revenue of $186.64 million during the quarter, compared to analyst estimates of $418.04 million. As a group, sell-side analysts expect that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 14.77%. This is an increase from Annaly Capital Management's previous quarterly dividend of $0.65. The ex-dividend date was Monday, March 31st. Annaly Capital Management's dividend payout ratio (DPR) is 314.61%.

Institutional Trading of Annaly Capital Management

Several institutional investors and hedge funds have recently made changes to their positions in NLY. Inlight Wealth Management LLC bought a new stake in shares of Annaly Capital Management in the first quarter valued at about $25,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Annaly Capital Management in the first quarter valued at about $28,000. Twin Tree Management LP bought a new stake in shares of Annaly Capital Management in the first quarter valued at about $29,000. Blue Trust Inc. raised its holdings in shares of Annaly Capital Management by 78.5% in the fourth quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 717 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Annaly Capital Management in the fourth quarter valued at about $31,000. 51.56% of the stock is currently owned by 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.