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

Annaly Capital Management Inc (NYSE:NLY) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. Three equities research 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 12-month price target among brokers that have issued a report on the stock in the last year is $24.3333.

Several research firms have recently commented on NLY. Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Zacks Research upgraded Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Wells Fargo & Company cut their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Finally, BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a research report on Wednesday, June 17th.

Institutional Trading of Annaly Capital Management

A number of large investors have recently modified their holdings of the stock. HUB Investment Partners LLC grew its holdings in shares of Annaly Capital Management by 3.3% during the 2nd quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock worth $328,000 after acquiring an additional 462 shares during the period. Koshinski Asset Management Inc. grew its position in shares of Annaly Capital Management by 1.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 463 shares during the period. Quadcap Wealth Management LLC lifted its position in Annaly Capital Management by 2.3% during the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock valued at $463,000 after acquiring an additional 495 shares during the period. Fourth Dimension Wealth LLC lifted its position in 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 valued at $26,000 after acquiring an additional 500 shares during the period. Finally, GWN Securities Inc. increased its stake in shares of Annaly Capital Management by 5.0% during the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Price Performance

Shares of NLY opened at $22.89 on Friday. The firm has a 50-day simple moving average of $22.83 and a two-hundred day simple moving average of $22.38. The stock has a market cap of $17.25 billion, a PE ratio of 5.74, a P/E/G ratio of 6.03 and a beta of 1.16. Annaly Capital Management has a 1-year low of $20.00 and a 1-year high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm 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, sell-side analysts expect that Annaly Capital Management will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.00 annualized dividend and a yield of 13.1%. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s dividend payout ratio is 75.19%.

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.