Wells Fargo & Company Cuts Annaly Capital Management (NYSE:NLY) Price Target to $24.00

Annaly Capital Management (NYSE:NLY) had its target price lowered by Wells Fargo & Company from $25.00 to $24.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on NLY. JPMorgan Chase & Co. upped their price objective on shares of Annaly Capital Management from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 17th. Finally, JonesTrading reiterated a “buy” rating and set a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, April 22nd. One investment 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, the company has an average rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Trading Up 0.5%

Shares of NYSE NLY opened at $22.43 on Thursday. Annaly Capital Management has a one year low of $20.00 and a one year high of $24.52. The firm has a market capitalization of $16.43 billion, a PE ratio of 5.62, a PEG ratio of 6.73 and a beta of 1.16. The business has a 50-day moving average price of $22.16 and a two-hundred day moving average price of $22.46.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. The company had revenue of $892.86 million for the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. Research analysts anticipate that Annaly Capital Management will post 3.03 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.75 dividend. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date is Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio is currently 75.19%.

Hedge Funds Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NLY. Fourth Dimension Wealth LLC grew its position in Annaly Capital Management by 76.9% in the fourth 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 in the last quarter. Root Financial Partners LLC raised its holdings in shares of Annaly Capital Management by 585.6% during the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,136 shares in the last quarter. Camelot Portfolios LLC bought a new position in shares of Annaly Capital Management during the 4th quarter valued at $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Annaly Capital Management in the 4th quarter valued at $31,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of Annaly Capital Management by 361.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,178 shares during the last quarter. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management News Summary

Here are the key news stories impacting Annaly Capital Management this week:

• Positive Sentiment: Annaly’s Q2 results and earnings-call commentary pointed to strong momentum, with management highlighting diversified housing finance growth across Agency securities, Residential Credit, and MSR opportunities, along with disciplined capital allocation. The company also reported strong profitability and a 5.5% economic return, which can help reassure investors about earnings durability. Annaly Q2 Earnings Call Highlights Housing Finance Strategy
• Positive Sentiment: Several reports said Annaly’s earnings available for distribution topped its dividend for a ninth straight quarter, and that rising EAD is supporting another dividend increase. For a high-yield mortgage REIT like NLY, this is important because it suggests the payout may remain well covered. Annaly Capital Management’s EAD Topped Its Dividend for a 9th Straight Quarter. Here’s Why That Matters for Its 12.5%+ Yielding Payout.
• Positive Sentiment: Annaly also raised its quarterly dividend to $0.75 and signaled attractive 14%–16% levered return potential in agency assets, reinforcing the stock’s appeal to income investors. Annaly signals agency 14%-16% levered return opportunity as it raises quarterly dividend to $0.75
• Neutral Sentiment: JPMorgan and Wells Fargo both lowered their price targets to $24 from higher levels, but kept overweight ratings. That suggests analysts still see upside in NLY, but are somewhat more cautious on valuation and near-term expectations. Analyst price target updates from JPMorgan and Wells Fargo
• Neutral Sentiment: Other coverage framed Annaly as a strong-yield, discounted valuation story, which supports the stock’s income-investor case but does not introduce a major new catalyst. Annaly Capital Management’s EAD Topped Its Dividend for a 9th Straight Quarter. Here’s Why That Matters for Its 12.5%+ Yielding Payout.

About Annaly Capital Management

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.