Analysts Set Annaly Capital Management Inc (NYSE:NLY) Price Target at $24.44

Shares of Annaly Capital Management Inc (NYSE:NLY) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $24.4444.

Several research firms have recently issued reports on NLY. JonesTrading reaffirmed a “buy” rating and set a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. UBS Group reissued a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a research note on Friday, April 24th. Piper Sandler increased their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Annaly Capital Management from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd.

Annaly Capital Management Price Performance

Annaly Capital Management stock opened at $22.73 on Friday. The business has a 50 day moving average of $22.07 and a 200-day moving average of $22.47. Annaly Capital Management has a 1 year low of $19.39 and a 1 year high of $24.52. The company has a market capitalization of $16.65 billion, a P/E ratio of 7.68, a P/E/G ratio of 6.84 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The business had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. Equities analysts anticipate that Annaly Capital Management will post 3 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 13.2%. The ex-dividend date is Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s dividend payout ratio (DPR) is 101.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AIA Group Ltd boosted its position in shares of Annaly Capital Management by 124.8% during the 3rd quarter. AIA Group Ltd now owns 159,118 shares of the real estate investment trust’s stock valued at $3,216,000 after purchasing an additional 88,341 shares in the last quarter. Horizon Investments LLC bought a new stake in Annaly Capital Management in the fourth quarter worth approximately $7,946,000. Brevan Howard Capital Management LP lifted its stake in Annaly Capital Management by 105.4% in the third quarter. Brevan Howard Capital Management LP now owns 275,484 shares of the real estate investment trust’s stock valued at $5,568,000 after buying an additional 141,384 shares during the period. Vanguard Group Inc. lifted its stake in Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after buying an additional 3,024,564 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Annaly Capital Management by 3.9% during the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after buying an additional 74,074 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.