Annaly Capital Management Inc (NLY) To Go Ex-Dividend on June 30th

Annaly Capital Management Inc (NYSE:NLY) declared a quarterly dividend on Wednesday, June 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.75 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 7.1% increase from Annaly Capital Management’s previous quarterly dividend of $0.70.

Annaly Capital Management has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Annaly Capital Management has a payout ratio of 103.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Annaly Capital Management to earn $2.96 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 101.4%.

Annaly Capital Management Stock Performance

NLY stock opened at $22.92 on Friday. The stock has a fifty day moving average of $22.07 and a 200-day moving average of $22.45. Annaly Capital Management has a fifty-two week low of $18.64 and a fifty-two week high of $24.52. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 7.01 and a beta of 1.17.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $595.27 million. Equities analysts predict that Annaly Capital Management will post 2.98 EPS for the current year.

Analyst Upgrades and Downgrades

NLY has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. JonesTrading restated a “buy” rating and set a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, BTIG Research set a $24.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.11.

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.