Annaly Capital Management (NYSE:NLY) Given New $21.50 Price Target at Piper Sandler

Annaly Capital Management (NYSE:NLY) had its price target reduced by investment analysts at Piper Sandler from $25.00 to $21.50 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would indicate a potential upside of 18.16% from the company’s previous close.

NLY has been the subject of a number of other reports. Zacks Research cut shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. BTIG Research set a $21.00 target price on Annaly Capital Management and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, July 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Annaly Capital Management has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Annaly Capital Management Stock Down 0.4%

NLY traded down $0.07 during trading on Friday, reaching $18.20. 3,852,673 shares of the company’s stock were exchanged, compared to its average volume of 8,233,452. Annaly Capital Management has a fifty-two week low of $17.76 and a fifty-two week high of $24.52. The company has a market capitalization of $13.71 billion, a P/E ratio of 4.56, a PEG ratio of 1.41 and a beta of 1.21. The business has a 50 day moving average price of $21.85 and a 200 day moving average price of $22.04.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $639.80 million. As a group, research analysts forecast that Annaly Capital Management will post 3.09 EPS for the current year.

Institutional Investors Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in Annaly Capital Management by 215.8% during the 2nd quarter. Hsbc Holdings PLC now owns 858,481 shares of the real estate investment trust’s stock worth $19,288,000 after purchasing an additional 586,611 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Annaly Capital Management by 72.1% during the first quarter. Renaissance Technologies LLC now owns 448,222 shares of the real estate investment trust’s stock worth $9,480,000 after buying an additional 187,707 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Annaly Capital Management by 25.1% in the 2nd quarter. TD Asset Management Inc now owns 519,768 shares of the real estate investment trust’s stock valued at $11,622,000 after purchasing an additional 104,400 shares during the last quarter. Andra AP fonden increased its holdings in Annaly Capital Management by 5,304.6% in the 2nd quarter. Andra AP fonden now owns 262,393 shares of the real estate investment trust’s stock valued at $5,867,000 after purchasing an additional 257,538 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Annaly Capital Management in the 2nd quarter valued at about $4,677,000. 51.56% of the stock is owned by institutional investors.

About Annaly Capital Management

Annaly Capital Management, Inc is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.