Annaly Capital Management, Inc. (NYSE:NLY) to Issue Quarterly Dividend of $0.70

Annaly Capital Management, Inc. (NYSE:NLY - Get Free Report) declared a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.70 per share by the real estate investment trust on Thursday, July 31st. This represents a $2.80 dividend on an annualized basis and a yield of 14.69%. The ex-dividend date is Monday, June 30th.

Annaly Capital Management has a dividend payout ratio of 96.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Annaly Capital Management to earn $2.78 per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of 100.7%.

Annaly Capital Management Stock Up 1.0%

NLY stock traded up $0.18 during trading on Friday, reaching $19.06. 4,956,097 shares of the company's stock were exchanged, compared to its average volume of 6,541,842. Annaly Capital Management has a 1-year low of $16.60 and a 1-year high of $22.11. The company's fifty day moving average price is $18.88 and its 200-day moving average price is $19.72. The firm has a market cap of $11.39 billion, a PE ratio of 11.99, a P/E/G ratio of 4.89 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The company had revenue of $186.64 million during the quarter, compared to analyst estimates of $418.04 million. As a group, sell-side analysts expect that Annaly Capital Management will post 2.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NLY shares. Piper Sandler dropped their price objective on Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on Annaly Capital Management from $20.15 to $20.50 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada dropped their price objective on Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. Jones Trading reissued a "buy" rating and issued a $21.00 price objective on shares of Annaly Capital Management in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.00.

Institutional Investors Weigh In On Annaly Capital Management

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in Annaly Capital Management by 111.8% during the first quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust's stock valued at $1,154,000 after buying an additional 29,978 shares during the period. Integrated Wealth Concepts LLC raised its position in Annaly Capital Management by 39.4% during the first quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust's stock valued at $302,000 after buying an additional 4,205 shares during the period. Millennium Management LLC raised its position in Annaly Capital Management by 17.4% during the first quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock valued at $11,003,000 after buying an additional 80,481 shares during the period. NewEdge Advisors LLC raised its position in Annaly Capital Management by 20.8% during the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $362,000 after buying an additional 3,074 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Annaly Capital Management by 833.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust's stock valued at $59,318,000 after buying an additional 2,607,784 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

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.