Annaly Capital Management, Inc. (NYSE:NLY) Plans $0.65 Quarterly Dividend

Annaly Capital Management, Inc. (NYSE:NLY) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.65 per share by the real estate investment trust on Friday, January 31st. This represents a $2.60 dividend on an annualized basis and a yield of 13.26%.

Annaly Capital Management has decreased its dividend by an average of 2.0% per year over the last three years. Annaly Capital Management has a dividend payout ratio of 93.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Annaly Capital Management to earn $2.68 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 97.0%.

Annaly Capital Management Stock Down 0.1 %

NLY stock opened at $19.61 on Friday. Annaly Capital Management has a twelve month low of $17.67 and a twelve month high of $21.11. The company has a market cap of $10.99 billion, a P/E ratio of -280.14 and a beta of 1.51. The business’s fifty day moving average is $19.66 and its 200-day moving average is $19.84.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 million. During the same quarter in the prior year, the company posted $0.66 EPS. Research analysts anticipate that Annaly Capital Management will post 2.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $19.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Argus upgraded shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Annaly Capital Management Company Profile

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.