Annaly Capital Management (NYSE:NLY) Given New $22.00 Price Target at Piper Sandler

Annaly Capital Management (NYSE:NLY) had its price target cut by analysts at Piper Sandler from $25.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target points to a potential upside of 4.69% from the company’s current price.

Several other equities research analysts have also recently weighed in on NLY. Barclays set a $24.00 target price on Annaly Capital Management and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their price target on shares of Annaly Capital Management from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods boosted their price objective on shares of Annaly Capital Management from $23.25 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, January 21st. Finally, Argus upgraded shares of Annaly Capital Management to a “strong-buy” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.78.

Annaly Capital Management Stock Down 0.5%

Annaly Capital Management stock traded down $0.12 during midday trading on Thursday, reaching $21.02. The company’s stock had a trading volume of 788,451 shares, compared to its average volume of 8,548,784. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $24.52. The company has a market cap of $15.10 billion, a P/E ratio of 7.55, a P/E/G ratio of 6.50 and a beta of 1.24. The business has a 50-day simple moving average of $22.59 and a 200-day simple moving average of $22.20.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $567.67 million. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%. As a group, equities analysts forecast that Annaly Capital Management will post 2.81 earnings per share for the current year.

Insider Transactions at Annaly Capital Management

In related news, CFO Serena Wolfe sold 16,536 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $23.14, for a total transaction of $382,643.04. Following the transaction, the chief financial officer owned 173,081 shares in the company, valued at $4,005,094.34. This trade represents a 8.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Steven Francis Campbell sold 26,491 shares of Annaly Capital Management stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total value of $604,789.53. Following the transaction, the chief operating officer directly owned 178,000 shares in the company, valued at approximately $4,063,740. This trade represents a 12.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 71,252 shares of company stock valued at $1,639,995. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors have recently modified their holdings of NLY. Fourth Dimension Wealth LLC boosted its stake 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 purchasing an additional 500 shares during the period. Delos Wealth Advisors LLC purchased a new stake in shares of Annaly Capital Management in the second quarter valued at about $28,000. Evolution Wealth Management Inc. acquired a new stake in shares of Annaly Capital Management during the second quarter worth about $29,000. Camelot Portfolios LLC acquired a new stake in shares of Annaly Capital Management during the fourth quarter worth about $29,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Annaly Capital Management during the fourth quarter worth about $31,000. 51.56% of the stock is owned by institutional investors and hedge funds.

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.