Annaly Capital Management Inc (NYSE:NLY) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Annaly Capital Management has an average analyst rating of “Moderate Buy” from 12 covering analysts, with the consensus 12-month price target at about $24.22.
• The company beat quarterly earnings expectations, reporting $0.76 EPS versus the $0.74 consensus, though revenue came in below estimates at $341.56 million.
• Annaly paid a $0.70 quarterly dividend, translating to an annualized yield of 12.6%, while insiders recently sold shares and institutional ownership stands at 51.56%.

Shares of Annaly Capital Management Inc (NYSE:NLY - Get Free Report) have received an average rating of "Moderate Buy" from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.2222.

A number of brokerages recently commented on NLY. Royal Bank Of Canada raised their price objective on shares of Annaly Capital Management from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Wells Fargo & Company restated an "overweight" rating and set a $25.00 price objective (up from $23.00) on shares of Annaly Capital Management in a report on Thursday, January 29th. UBS Group reiterated a "neutral" rating and issued a $23.00 price target (up from $22.50) on shares of Annaly Capital Management in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Annaly Capital Management from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Piper Sandler lowered their price target on shares of Annaly Capital Management from $25.00 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd.

Annaly Capital Management Stock Down 0.6%

Shares of NYSE:NLY opened at $22.17 on Thursday. Annaly Capital Management has a 12 month low of $18.43 and a 12 month high of $24.52. The company's fifty day simple moving average is $22.10 and its 200 day simple moving average is $22.47. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 6.81 and a beta of 1.20.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The business had revenue of $341.56 million for the quarter, compared to analyst estimates of $595.27 million. Research analysts expect that Annaly Capital Management will post 2.98 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 12.6%. The ex-dividend date was Tuesday, March 31st. Annaly Capital Management's payout ratio is presently 94.59%.

Insider Buying and Selling at Annaly Capital Management

In other Annaly Capital Management news, COO Steven Francis Campbell sold 26,491 shares of Annaly Capital Management stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $22.83, for a total value of $604,789.53. Following the sale, the chief operating officer directly owned 178,000 shares in the company, valued at approximately $4,063,740. The trade was a 12.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Serena Wolfe sold 16,536 shares of Annaly Capital Management stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $23.14, for a total transaction of $382,643.04. Following the completion of the sale, the chief financial officer owned 173,081 shares in the company, valued at $4,005,094.34. The trade was a 8.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,252 shares of company stock worth $1,639,995 over the last quarter. Company insiders own 0.22% of the company's stock.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. increased its stake in Annaly Capital Management by 1.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust's stock valued at $548,000 after buying an additional 463 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Annaly Capital Management by 1.8% during the 3rd quarter. ProShare Advisors LLC now owns 27,309 shares of the real estate investment trust's stock worth $552,000 after purchasing an additional 481 shares during the last quarter. MCF Advisors LLC increased its stake in shares of Annaly Capital Management by 41.6% during the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 496 shares during the last quarter. Fourth Dimension Wealth LLC increased its stake in shares of Annaly Capital Management by 76.9% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 500 shares during the last quarter. Finally, GWN Securities Inc. increased its stake in shares of Annaly Capital Management by 5.0% during the 4th quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust's stock worth $242,000 after purchasing an additional 514 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company's core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.