Annaly Capital Management Inc (NYSE:NLY) Receives $24.33 Consensus PT from Brokerages

Annaly Capital Management Inc (NYSE:NLY) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.3333.

Several analysts have issued reports on NLY shares. Wells Fargo & Company reduced their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Piper Sandler upped their target price on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th.

Annaly Capital Management Stock Performance

NLY opened at $21.07 on Wednesday. The business’s fifty day moving average is $22.75 and its two-hundred day moving average is $22.31. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 5.28, a PEG ratio of 1.68 and a beta of 1.16. Annaly Capital Management has a one year low of $20.00 and a one year high of $24.52.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $1.82 billion during 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%. On average, analysts predict that Annaly Capital Management will post 3.09 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 14.2%. The ex-dividend date is Wednesday, September 30th. Annaly Capital Management’s dividend payout ratio (DPR) is currently 75.19%.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Annaly Capital Management by 6.7% in the second quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock valued at $1,950,230,000 after buying an additional 5,485,296 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 1,503,559 shares during the last quarter. Norges Bank acquired a new position in Annaly Capital Management in the 4th quarter valued at $162,477,000. Bank of New York Mellon Corp lifted its stake in shares of Annaly Capital Management by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 4,714,355 shares of the real estate investment trust’s stock worth $105,413,000 after purchasing an additional 265,437 shares during the period. Finally, KBC Group NV lifted its stake in shares of Annaly Capital Management by 44.2% during the 1st quarter. KBC Group NV now owns 4,976,006 shares of the real estate investment trust’s stock worth $105,243,000 after purchasing an additional 1,525,251 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a Maryland-based mortgage real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is providing capital to the U.S. housing market through investments in agency mortgage-backed securities, which are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.

In addition to agency securities, Annaly invests in residential credit assets and mortgage servicing rights. These investments provide exposure to different segments of the residential mortgage market, while the company uses financing, hedging and portfolio management strategies to manage interest-rate and other market risks.

Founded in 1996, Annaly primarily operates in the United States and is internally managed.