Annaly Capital Management, Inc. (NYSE:NLY) Receives $21.38 Average Target Price from Analysts

Shares of Annaly Capital Management, Inc. (NYSE:NLY) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.38.

Several brokerages recently weighed in on NLY. Wells Fargo & Company raised shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $23.00 in a research note on Friday, September 20th. Janney Montgomery Scott began coverage on Annaly Capital Management in a research report on Thursday, June 6th. They set a “buy” rating and a $21.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Annaly Capital Management from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th.

Annaly Capital Management Stock Up 1.3 %

NYSE:NLY opened at $20.66 on Friday. Annaly Capital Management has a 52 week low of $14.52 and a 52 week high of $21.11. The stock’s fifty day moving average is $20.14 and its two-hundred day moving average is $19.72. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of -21.30 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same period last year, the business posted $0.72 EPS. On average, sell-side analysts expect that Annaly Capital Management will post 2.67 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 12.58%. The ex-dividend date is Monday, September 30th. Annaly Capital Management’s payout ratio is -268.04%.

Insider Activity at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.05, for a total value of $1,002,500.00. Following the completion of the sale, the chief executive officer now directly owns 612,469 shares of the company’s stock, valued at $12,280,003.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.

Institutional Trading of Annaly Capital Management

Institutional investors and hedge funds have recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its position in Annaly Capital Management by 21.4% during the first quarter. Beaird Harris Wealth Management LLC now owns 2,837 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 500 shares during the period. Redmont Wealth Advisors LLC boosted its holdings in shares of Annaly Capital Management by 20.6% in the second quarter. Redmont Wealth Advisors LLC now owns 3,279 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 559 shares during the period. Sunbelt Securities Inc. grew its position in shares of Annaly Capital Management by 6.0% during the first quarter. Sunbelt Securities Inc. now owns 9,937 shares of the real estate investment trust’s stock worth $196,000 after acquiring an additional 562 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Annaly Capital Management by 3.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 20,537 shares of the real estate investment trust’s stock valued at $391,000 after acquiring an additional 597 shares during the period. Finally, Retirement Group LLC raised its position in Annaly Capital Management by 27.7% in the 1st quarter. Retirement Group LLC now owns 3,168 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 687 shares during the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.