Annaly Capital Management Inc (NYSE:NLY) Announces $0.70 Quarterly Dividend

Annaly Capital Management Inc (NYSE:NLY) declared a quarterly dividend on Wednesday, December 10th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.70 per share by the real estate investment trust on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Wednesday, December 31st.

Annaly Capital Management has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. Annaly Capital Management has a dividend payout ratio of 96.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Annaly Capital Management to earn $2.78 per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of 100.7%.

Annaly Capital Management Stock Performance

Annaly Capital Management stock traded up $0.04 during midday trading on Thursday, reaching $22.43. The company’s stock had a trading volume of 636,289 shares, compared to its average volume of 7,549,432. The firm has a market capitalization of $15.32 billion, a PE ratio of 10.38, a P/E/G ratio of 6.98 and a beta of 1.26. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $22.98. The stock’s 50 day simple moving average is $21.56 and its 200 day simple moving average is $20.72.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Annaly Capital Management had a net margin of 26.68% and a return on equity of 15.96%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $493.55 million. Equities analysts predict that Annaly Capital Management will post 2.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NLY. JPMorgan Chase & Co. boosted their price target on Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Barclays set a $20.00 target price on Annaly Capital Management and gave the company a “cautious” rating in a report on Monday, October 6th. Jones Trading restated a “buy” rating and issued a $22.00 price target on shares of Annaly Capital Management in a research report on Thursday, October 23rd. Zacks Research lowered shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Royal Bank Of Canada increased their price objective on shares of Annaly Capital Management from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.71.

Annaly Capital Management Company Profile

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.