Analysts Set Annaly Capital Management Inc (NYSE:NLY) Target Price at $24.33

Shares of Annaly Capital Management Inc (NYSE:NLY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.3333.

Several equities analysts have recently issued reports on NLY shares. BTIG Research set a $24.00 target price on Annaly Capital Management in a report on Wednesday, June 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. JonesTrading reissued a “buy” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Zacks Research upgraded Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased 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 Down 1.5%

Shares of NLY opened at $22.73 on Tuesday. The business’s fifty day moving average is $22.30 and its 200 day moving average is $22.45. Annaly Capital Management has a 12-month low of $20.00 and a 12-month high of $24.52. The stock has a market cap of $17.13 billion, a P/E ratio of 5.70, a P/E/G ratio of 5.93 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results 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. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. On average, analysts expect that Annaly Capital Management will post 3.09 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a $0.75 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a yield of 13.2%. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s dividend payout ratio (DPR) is presently 75.19%.

Institutional Investors Weigh In On Annaly Capital Management

Several institutional investors have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC boosted its stake in Annaly Capital Management by 76.9% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 500 shares during the period. Camelot Portfolios LLC bought a new position in Annaly Capital Management in the 4th quarter worth about $29,000. Root Financial Partners LLC increased its stake in Annaly Capital Management by 585.6% in the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,136 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Annaly Capital Management in the 4th quarter valued at about $31,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of Annaly Capital Management by 361.3% in the 4th 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 in the last quarter. 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 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.