Analysts Set Annaly Capital Management Inc (NYSE:NLY) Target Price at $20.83

Key Points

• Annaly Capital Management has received an average recommendation of "Moderate Buy" from eleven brokerages, with four analysts rating it as a hold and seven as a buy.
• The average 12-month price target set by analysts for Annaly Capital Management is $20.83, with recent adjustments noting increases from firms like UBS and Keefe, Bruyette & Woods.
• The company's stock opened at $22.06, showing a 1.2% increase, with a market capitalization of approximately $14.16 billion.

Shares of Annaly Capital Management Inc (NYSE:NLY - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.8333.

Several research analysts have recently commented on NLY shares. Keefe, Bruyette & Woods raised their price objective on Annaly Capital Management from $20.50 to $21.50 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Jones Trading restated a "buy" rating and set a $21.00 target price on shares of Annaly Capital Management in a research note on Thursday, July 24th. Royal Bank Of Canada dropped their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. UBS Group increased their price objective on shares of Annaly Capital Management from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Zacks Research cut shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th.

Annaly Capital Management Stock Performance

Shares of Annaly Capital Management stock traded up $0.06 on Friday, hitting $22.16. 9,342,925 shares of the company's stock were exchanged, compared to its average volume of 6,489,946. Annaly Capital Management has a 1 year low of $16.59 and a 1 year high of $22.45. The company has a 50-day simple moving average of $20.67 and a 200-day simple moving average of $20.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $14.23 billion, a PE ratio of 21.94, a PEG ratio of 5.24 and a beta of 1.24.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The company had revenue of $273.20 million for the quarter, compared to analysts' expectations of $237.00 million. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%. As a group, equities analysts anticipate that Annaly Capital Management will post 2.81 EPS for the current year.

Annaly Capital Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Tuesday, September 30th. Annaly Capital Management's payout ratio is presently 277.23%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Annaly Capital Management by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 58,701,446 shares of the real estate investment trust's stock valued at $1,104,761,000 after buying an additional 2,344,867 shares in the last quarter. State Street Corp grew its stake in Annaly Capital Management by 2.8% during the second quarter. State Street Corp now owns 22,683,988 shares of the real estate investment trust's stock valued at $442,136,000 after acquiring an additional 611,817 shares in the last quarter. Geode Capital Management LLC increased its holdings in Annaly Capital Management by 6.8% in the 2nd quarter. Geode Capital Management LLC now owns 14,926,231 shares of the real estate investment trust's stock valued at $280,535,000 after acquiring an additional 949,260 shares during the last quarter. Norges Bank purchased a new stake in Annaly Capital Management in the 2nd quarter worth $130,626,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Annaly Capital Management during the 2nd quarter valued at about $100,216,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

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.