Annaly Capital Management (NYSE:NLY) Earns “Outperform” Rating from Royal Bank of Canada

Annaly Capital Management (NYSE:NLY)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a report issued on Monday,Benzinga reports. They currently have a $22.00 target price on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.98% from the company’s current price.

Several other brokerages also recently commented on NLY. Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Annaly Capital Management from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Finally, Barclays assumed coverage on Annaly Capital Management in a report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.44.

Annaly Capital Management Price Performance

NYSE NLY traded up $0.04 on Monday, hitting $20.57. 1,203,106 shares of the company were exchanged, compared to its average volume of 6,366,265. The firm has a 50 day moving average of $19.35 and a two-hundred day moving average of $19.70. The company has a market cap of $11.53 billion, a P/E ratio of 12.94, a P/E/G ratio of 4.66 and a beta of 1.52. Annaly Capital Management has a 1-year low of $17.67 and a 1-year high of $21.11. The company has a current ratio of 0.12, a quick ratio of 0.08 and a debt-to-equity ratio of 0.22.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. On average, equities analysts predict that Annaly Capital Management will post 2.81 EPS for the current year.

Institutional Trading of Annaly Capital Management

Several hedge funds have recently made changes to their positions in the company. Stratos Wealth Advisors LLC raised its position in shares of Annaly Capital Management by 93.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 275,559 shares of the real estate investment trust’s stock valued at $5,043,000 after buying an additional 132,891 shares in the last quarter. Wellington Management Group LLP raised its stake in Annaly Capital Management by 9.9% in the third quarter. Wellington Management Group LLP now owns 537,125 shares of the real estate investment trust’s stock worth $10,780,000 after buying an additional 48,555 shares in the last quarter. Citigroup Inc. raised its holdings in Annaly Capital Management by 22.6% in the third quarter. Citigroup Inc. now owns 652,255 shares of the real estate investment trust’s stock worth $13,091,000 after purchasing an additional 120,163 shares in the last quarter. Howard Financial Services LTD. purchased a new stake in shares of Annaly Capital Management in the fourth quarter worth $527,000. Finally, Tandem Financial LLC bought a new stake in shares of Annaly Capital Management in the 4th quarter worth $327,000. 51.56% of the stock is currently owned by institutional investors.

About Annaly Capital Management

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.