Annaly Capital Management Inc (NYSE:NLY) Receives $24.33 Average Price Target from Brokerages

Annaly Capital Management Inc (NYSE:NLY) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. Four 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.3333.

A number of analysts recently weighed in on NLY shares. UBS Group reissued a “neutral” rating and issued a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 3rd. JonesTrading reiterated a “buy” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. BTIG Research set a $24.00 target price on Annaly Capital Management in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. dropped their target price on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, July 24th.

Annaly Capital Management Stock Up 0.1%

Shares of NYSE NLY opened at $23.07 on Tuesday. The firm’s 50-day simple moving average is $22.28 and its 200 day simple moving average is $22.45. The company has a market cap of $16.91 billion, a price-to-earnings ratio of 5.78, a price-to-earnings-growth ratio of 6.02 and a beta of 1.16. Annaly Capital Management has a 12-month low of $20.00 and a 12-month high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating 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 firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $639.80 million. On average, equities analysts expect that Annaly Capital Management will post 3.09 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.75 dividend. The ex-dividend date is Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 13.0%. Annaly Capital Management’s dividend payout ratio is 75.19%.

Institutional Trading of Annaly Capital Management

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC grew its position in shares of Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 500 shares during the period. Camelot Portfolios LLC acquired a new position in Annaly Capital Management in the fourth quarter valued at approximately $29,000. Root Financial Partners LLC lifted its holdings in Annaly Capital Management by 585.6% in the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 1,136 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in Annaly Capital Management in the fourth quarter valued at approximately $31,000. Finally, TD Private Client Wealth LLC boosted its stake in Annaly Capital Management by 361.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,178 shares during the last quarter. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Company Profile

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.