Annaly Capital Management (NYSE:NLY) Issues Earnings Results, Misses Expectations By $0.01 EPS

Annaly Capital Management (NYSE:NLY) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01), Yahoo Finance reports. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $212.00 million. During the same quarter in the previous year, the business earned $0.66 EPS.

Annaly Capital Management Price Performance

NLY stock traded down $0.21 during midday trading on Friday, hitting $19.49. The stock had a trading volume of 5,448,718 shares, compared to its average volume of 4,057,342. The firm has a market cap of $10.49 billion, a PE ratio of -14.92 and a beta of 1.51. Annaly Capital Management has a 12-month low of $14.52 and a 12-month high of $21.11. The company’s 50-day moving average price is $20.10 and its 200 day moving average price is $19.74.

Annaly Capital Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.65 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.60 annualized dividend and a yield of 13.34%. Annaly Capital Management’s payout ratio is currently -195.49%.

Wall Street Analyst Weigh In

NLY has been the subject of a number of research reports. Compass Point lifted their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $23.00 in a research report on Friday, September 20th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Insiders Place Their Bets

In other Annaly Capital Management news, CEO David L. Finkelstein sold 50,000 shares of Annaly Capital Management stock in a transaction that occurred 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 approximately $12,280,003.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by corporate insiders.

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.