Annaly Capital Management Inc (NYSE:NLY) Receives $24.44 Consensus Price Target from Analysts

Shares of Annaly Capital Management Inc (NYSE:NLY) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $24.4444.

NLY has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. UBS Group reiterated a “neutral” rating and set a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a research note on Friday, April 24th. Piper Sandler increased their price target on shares of Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Annaly Capital Management from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd.

Annaly Capital Management Trading Down 1.3%

Shares of NLY stock opened at $22.68 on Friday. The company has a market capitalization of $16.62 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 6.98 and a beta of 1.16. The business’s 50 day moving average is $22.08 and its two-hundred day moving average is $22.47. Annaly Capital Management has a twelve month low of $19.35 and a twelve month high of $24.52.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The business had revenue of $341.56 million during the quarter, compared to analysts’ expectations of $595.27 million. As a group, equities analysts predict that Annaly Capital Management will post 3 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 13.2%. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s payout ratio is 101.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NLY. Vanguard Group Inc. lifted its holdings in Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the period. State Street Corp grew its stake in shares of Annaly Capital Management by 8.4% during the 4th quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust’s stock worth $608,994,000 after purchasing an additional 2,053,451 shares during the period. Geode Capital Management LLC increased its holdings in shares of Annaly Capital Management by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust’s stock valued at $411,031,000 after purchasing an additional 1,503,559 shares in the last quarter. Norges Bank purchased a new position in shares of Annaly Capital Management in the 4th quarter valued at about $162,477,000. Finally, Morgan Stanley lifted its stake in shares of Annaly Capital Management by 33.5% in the fourth quarter. Morgan Stanley now owns 6,977,329 shares of the real estate investment trust’s stock valued at $156,013,000 after purchasing an additional 1,751,509 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.