Annaly Capital Management (NYSE:NLY) Raised to “Buy” at Argus

by · The Cerbat Gem

Annaly Capital Management (NYSE:NLY – Get Free Report) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The brokerage presently has a $21.00 target price on the real estate investment trust’s stock. Argus’ price target would indicate a potential upside of 9.78% from the company’s current price.

A number of other analysts have also commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. JPMorgan Chase & Co. cut their target price on Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Compass Point upped their price objective on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $23.00 in a research note on Friday, September 20th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.33.

Get Our Latest Stock Report on Annaly Capital Management

Annaly Capital Management Stock Down 1.0 %

Shares of NLY traded down $0.20 during midday trading on Thursday, hitting $19.13. The company’s stock had a trading volume of 7,281,561 shares, compared to its average volume of 4,129,425. Annaly Capital Management has a one year low of $15.25 and a one year high of $21.11. The company’s fifty day simple moving average is $20.03 and its two-hundred day simple moving average is $19.76. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of -273.57 and a beta of 1.51.

Annaly Capital Management (NYSE:NLY – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $212.00 million. Annaly Capital Management had a return on equity of 14.75% and a net margin of 2.59%. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, research analysts predict that Annaly Capital Management will post 2.67 earnings per share for the current year.

Insider Buying and Selling at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 612,469 shares in the company, valued at approximately $12,280,003.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Annaly Capital Management

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of Annaly Capital Management by 70.2% during the third quarter. UMB Bank n.a. now owns 1,568 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 647 shares in the last quarter. Quarry LP purchased a new position in shares of Annaly Capital Management during the 2nd quarter worth $36,000. EverSource Wealth Advisors LLC lifted its stake in shares of Annaly Capital Management by 107.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,076 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in Annaly Capital Management by 31.8% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,390 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 576 shares during the last quarter. Finally, Tobam bought a new stake in Annaly Capital Management in the 1st quarter valued at $53,000. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Company Profile

(Get Free Report)

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.

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