Annaly Capital Management Inc (NYSE:NLY) Stock Has Average Price Target of $23.61

Annaly Capital Management Inc (NYSE:NLY) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.61.

NLY has been the subject of several recent research reports. BTIG Research set a $21.00 price target on Annaly Capital Management and gave the company a “buy” rating in a research report on Tuesday, October 6th. Wells Fargo & Company decreased their price target on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price objective on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. 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. Finally, Piper Sandler dropped their price objective on shares of Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating on the stock in a research note on Friday, October 9th.

Annaly Capital Management Stock Performance

NYSE NLY opened at $18.20 on Friday. The firm has a market capitalization of $13.71 billion, a P/E ratio of 4.56, a PEG ratio of 1.44 and a beta of 1.21. The stock has a 50-day simple moving average of $21.58 and a two-hundred day simple moving average of $21.98. Annaly Capital Management has a fifty-two week low of $17.76 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $639.80 million. As a group, analysts forecast that Annaly Capital Management will post 3.09 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 16.5%. The ex-dividend date is Wednesday, September 30th. Annaly Capital Management’s payout ratio is currently 75.19%.

Institutional Trading of Annaly Capital Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in 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 worth $1,950,230,000 after acquiring an additional 5,485,296 shares during the period. State Street Corp increased its stake in shares of Annaly Capital Management by 4.5% in the 2nd quarter. State Street Corp now owns 29,426,379 shares of the real estate investment trust’s stock valued at $679,468,000 after purchasing an additional 1,272,235 shares in the last quarter. KBC Group NV increased its stake in shares of Annaly Capital Management by 44.2% in the 1st quarter. KBC Group NV now owns 4,976,006 shares of the real estate investment trust’s stock valued at $105,243,000 after purchasing an additional 1,525,251 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Annaly Capital Management by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,962,690 shares of the real estate investment trust’s stock worth $104,961,000 after purchasing an additional 248,335 shares during the period. Finally, Amundi raised its holdings in Annaly Capital Management by 35.2% in the 1st quarter. Amundi now owns 3,361,211 shares of the real estate investment trust’s stock worth $71,090,000 after purchasing an additional 875,331 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

About Annaly Capital Management

Annaly Capital Management, Inc is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.