Annaly Capital Management (NYSE:NLY) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Annaly Capital Management (NYSE:NLY) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04, FiscalAI reports. The firm had revenue of $892.86 million during the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%.

Annaly Capital Management Stock Performance

NYSE NLY traded down $0.05 on Tuesday, reaching $22.65. 5,877,753 shares of the company’s stock traded hands, compared to its average volume of 7,659,165. Annaly Capital Management has a fifty-two week low of $19.92 and a fifty-two week high of $24.52. The firm has a market cap of $16.60 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 6.93 and a beta of 1.16. The stock has a 50 day moving average price of $22.13 and a 200-day moving average price of $22.46.

Annaly Capital Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.75 per share. This is a boost 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 13.2%. The ex-dividend date is Tuesday, June 30th. Annaly Capital Management’s payout ratio is presently 101.35%.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. acquired a new position in shares of Annaly Capital Management in the 4th quarter valued at about $31,000. Atlas Capital Advisors Inc. acquired a new stake in Annaly Capital Management during the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC grew its position in Annaly Capital Management by 23.9% during the third quarter. CIBC Private Wealth Group LLC now owns 2,859 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 552 shares during the period. Los Angeles Capital Management LLC purchased a new position in Annaly Capital Management in the fourth quarter valued at $60,000. Finally, Larson Financial Group LLC boosted its stake in shares of Annaly Capital Management by 72.2% during the 3rd quarter. Larson Financial Group LLC now owns 3,717 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 1,558 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NLY shares. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, June 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 3rd. UBS Group reissued a “neutral” rating and issued a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on Annaly Capital Management from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.67.

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.