Brokerages Set Annaly Capital Management Inc (NYSE:NLY) Target Price at $24.22

Annaly Capital Management Inc (NYSE:NLY) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $24.2222.

NLY has been the subject of several research analyst reports. UBS Group reiterated a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Annaly Capital Management from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. JonesTrading reiterated a “buy” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd.

Hedge Funds Weigh In On Annaly Capital Management

A number of large investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. boosted its position in Annaly Capital Management by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after acquiring an additional 463 shares during the last quarter. ProShare Advisors LLC boosted its position in Annaly Capital Management by 1.8% during the 3rd quarter. ProShare Advisors LLC now owns 27,309 shares of the real estate investment trust’s stock worth $552,000 after acquiring an additional 481 shares during the last quarter. Quadcap Wealth Management LLC boosted its position in Annaly Capital Management by 2.3% during the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 495 shares during the last quarter. MCF Advisors LLC boosted its position in Annaly Capital Management by 41.6% during the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 496 shares during the last quarter. Finally, Fourth Dimension Wealth LLC boosted its position in Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

Shares of NLY opened at $22.00 on Monday. The stock has a 50 day simple moving average of $21.97 and a 200 day simple moving average of $22.47. Annaly Capital Management has a 52-week low of $18.64 and a 52-week high of $24.52. The firm has a market capitalization of $16.12 billion, a PE ratio of 7.43, a P/E/G ratio of 6.72 and a beta of 1.17.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The business had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. Equities research analysts predict that Annaly Capital Management will post 2.98 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.75 per share. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a yield of 13.6%. Annaly Capital Management’s payout ratio is currently 94.59%.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.