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

Annaly Capital Management Inc (NYSE:NLY) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. Four 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 1-year target price among brokers that have issued a report on the stock in the last year is $23.61.

A number of research firms have issued reports on NLY. Weiss Ratings reissued a “hold (c)” rating on shares of Annaly Capital Management in a research report on Tuesday, October 6th. BTIG Research set a $21.00 price target on Annaly Capital Management and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Zacks Research downgraded Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. JPMorgan Chase & Co. reduced their price objective on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Finally, Piper Sandler reduced their price objective on 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 Trading Down 1.0%

Annaly Capital Management stock opened at $18.25 on Friday. Annaly Capital Management has a 52 week low of $17.76 and a 52 week high of $24.52. The stock has a fifty day moving average price of $21.31 and a 200 day moving average price of $21.91. The firm has a market capitalization of $13.75 billion, a P/E ratio of 4.57, a PEG ratio of 1.43 and a beta of 1.21.

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

Annaly Capital Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management’s dividend payout ratio is 75.19%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC grew its stake in Annaly Capital Management by 585.6% during the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 1,136 shares during the period. Markowski Investments acquired a new stake in shares of Annaly Capital Management in the second quarter worth $37,000. SHP Wealth Management acquired a new stake in shares of Annaly Capital Management in the fourth quarter worth $43,000. Fourth Dimension Wealth LLC raised its stake in shares of Annaly Capital Management by 30.3% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 500 shares during the period. Finally, Gould Capital LLC raised its stake in shares of Annaly Capital Management by 38.2% in the 4th quarter. Gould Capital LLC now owns 2,245 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 621 shares during the period. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Company Profile

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.