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

Key Points

• Annaly Capital Management reported an earnings per share (EPS) of $0.73 for the quarter, exceeding analysts' expectations of $0.72 by $0.01.
• The company declared a quarterly dividend of $0.70, with a dividend yield of 13.2%, payable to stockholders on October 31st.
• Multiple analysts have given mixed ratings on the stock, with a consensus rating of "Hold" and a target price of $21.50.

Annaly Capital Management (NYSE:NLY - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.01, Zacks reports. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%.

Annaly Capital Management Stock Performance

NYSE NLY traded up $0.24 on Wednesday, reaching $21.29. The stock had a trading volume of 8,250,378 shares, compared to its average volume of 7,684,053. Annaly Capital Management has a 1-year low of $16.59 and a 1-year high of $22.45. The company has a market cap of $13.67 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 5.00 and a beta of 1.25. The firm has a fifty day moving average of $21.12 and a two-hundred day moving average of $19.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

Annaly Capital Management Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.80 annualized dividend and a dividend yield of 13.2%. Annaly Capital Management's dividend payout ratio is presently 277.23%.

Wall Street Analyst Weigh In

NLY has been the subject of several research analyst reports. Barclays set a $20.00 price objective on Annaly Capital Management and gave the stock a "cautious" rating in a research report on Monday, October 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Annaly Capital Management in a research note on Wednesday, October 8th. Piper Sandler set a $22.50 price objective on Annaly Capital Management and gave the company an "overweight" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on Annaly Capital Management from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of Annaly Capital Management from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management presently has a consensus rating of "Hold" and a consensus target price of $21.50.

Hedge Funds Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Annaly Capital Management by 833.6% during 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 acquiring an additional 2,607,784 shares during the period. First Trust Advisors LP raised its position in shares of Annaly Capital Management by 330.8% during the second quarter. First Trust Advisors LP now owns 866,930 shares of the real estate investment trust's stock valued at $16,316,000 after buying an additional 665,676 shares during the last quarter. State Street Corp increased its holdings in Annaly Capital Management by 2.8% in the 2nd 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 during the last quarter. Bank of America Corp DE boosted its stake in Annaly Capital Management by 32.2% during the second quarter. Bank of America Corp DE now owns 2,440,405 shares of the real estate investment trust's stock valued at $45,928,000 after buying an additional 594,225 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Annaly Capital Management by 13.9% in the second quarter. Invesco Ltd. now owns 2,784,751 shares of the real estate investment trust's stock valued at $52,409,000 after purchasing an additional 339,628 shares in the last quarter. Institutional investors own 51.56% of the company's stock.

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.

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