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

Annaly Capital Management, Inc. (NYSE:NLY - Get Free Report) announced a quarterly dividend on Thursday, June 5th, Wall Street Journal reports. Stockholders 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 dividend yield of 14.69%. The ex-dividend date is Monday, June 30th.

Annaly Capital Management has a payout ratio of 96.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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 Performance

NYSE NLY traded up $0.18 during trading hours on Friday, reaching $19.06. The stock had a trading volume of 4,956,097 shares, compared to its average volume of 6,557,930. Annaly Capital Management has a 52-week low of $16.60 and a 52-week high of $22.11. The stock has a fifty day moving average of $18.88 and a 200 day moving average of $19.72. The stock has a market cap of $11.39 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 4.89 and a beta of 1.23.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate 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 business had revenue of $186.64 million for the quarter, compared to analyst estimates of $418.04 million. On average, equities research analysts forecast that Annaly Capital Management will post 2.81 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on NLY shares. Piper Sandler reduced their target price on Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price 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 reduced their target price on Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. JPMorgan Chase & Co. reduced their target price on Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Jones Trading reaffirmed a "buy" rating and set a $21.00 target price on shares of Annaly Capital Management in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Annaly Capital Management presently has an average rating of "Moderate Buy" and an average price target of $21.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Annaly Capital Management by 833.6% in the 1st 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 purchasing an additional 2,607,784 shares during the last quarter. Millennium Management LLC increased its stake in shares of Annaly Capital Management by 17.4% in the 1st quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock worth $11,003,000 after acquiring an additional 80,481 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Annaly Capital Management by 111.8% in the 1st quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust's stock worth $1,154,000 after acquiring an additional 29,978 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Annaly Capital Management by 18.6% in the 1st quarter. Empowered Funds LLC now owns 19,282 shares of the real estate investment trust's stock worth $392,000 after acquiring an additional 3,029 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Annaly Capital Management by 20.8% in the 1st quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $362,000 after acquiring an additional 3,074 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

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.