Annaly Capital Management Inc (NYSE:NLY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Annaly Capital Management Inc (NYSE:NLY) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.3333.

A number of research firms have weighed in on NLY. Wells Fargo & Company cut 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 research note on Thursday, July 23rd. Zacks Research cut shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. lowered their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th.

Hedge Funds Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently modified their holdings of NLY. DNB Asset Management AS grew its stake in Annaly Capital Management by 165.4% during the 4th quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock valued at $7,514,000 after purchasing an additional 209,435 shares in the last quarter. Legal & General Group Plc raised its position in shares of Annaly Capital Management by 3.9% in the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock valued at $44,379,000 after purchasing an additional 74,074 shares in the last quarter. Norges Bank acquired a new position in shares of Annaly Capital Management in the 4th quarter valued at approximately $162,477,000. Renaissance Technologies LLC raised its position in shares of Annaly Capital Management by 72.1% in the 1st quarter. Renaissance Technologies LLC now owns 448,222 shares of the real estate investment trust’s stock valued at $9,480,000 after purchasing an additional 187,707 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Annaly Capital Management during the 2nd quarter valued at approximately $4,677,000. 51.56% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Price Performance

NLY opened at $21.43 on Wednesday. Annaly Capital Management has a 12 month low of $20.00 and a 12 month high of $24.52. The business has a 50-day moving average of $22.69 and a two-hundred day moving average of $22.28. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 5.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.16.

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 (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $639.80 million. Equities research analysts anticipate that Annaly Capital Management will post 3.09 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.00 annualized dividend and a yield of 14.0%. Annaly Capital Management’s dividend payout ratio is currently 75.19%.

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.