Annaly Capital Management (NYSE:NLY) Sets New 52-Week Low – Should You Sell?

Shares of Annaly Capital Management Inc (NYSE:NLY) reached a new 52-week low on Tuesday. The company traded as low as $18.25 and last traded at $18.2950, with a volume of 15422567 shares changing hands. The stock had previously closed at $18.50.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NLY shares. Wells Fargo & Company decreased their price target on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Piper Sandler raised their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Zacks Research lowered shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Annaly Capital Management Price Performance

The stock’s 50 day simple moving average is $21.94 and its two-hundred day simple moving average is $22.06. The stock has a market capitalization of $13.50 billion, a PE ratio of 4.49, a PEG ratio of 1.45 and a beta of 1.21.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $1.82 billion during 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 research analysts predict that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 16.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management’s dividend payout ratio (DPR) is currently 75.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Trust Services Inc. raised its stake in Annaly Capital Management by 435.9% in the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 4,175 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 3,396 shares during the period. Eastern Bank increased its stake in shares of Annaly Capital Management by 14,495.1% in the third quarter. Eastern Bank now owns 23,790 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 23,627 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of Annaly Capital Management by 45.3% in the second quarter. QRG Capital Management Inc. now owns 561,069 shares of the real estate investment trust’s stock worth $12,545,000 after purchasing an additional 174,810 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Annaly Capital Management by 16.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 90,271 shares of the real estate investment trust’s stock worth $2,018,000 after purchasing an additional 12,947 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Annaly Capital Management by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,330,369 shares of the real estate investment trust’s stock valued at $29,747,000 after purchasing an additional 33,201 shares during the period. 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.