Annaly Capital Management (NYSE:NLY) Sets New 52-Week High Following Dividend Announcement

Key Points

• Annaly Capital Management shares reached a new 52-week high of $22.45 following a dividend announcement, with a dividend of $0.70 per share scheduled for payment on October 31st.
• The stock currently has a dividend yield of 12.7% and a high payout ratio of 277.23%, reflecting substantial dividend distribution relative to earnings.
• Seven analysts rate the stock as a "Buy," while four have a "Hold" rating, resulting in a consensus rating of "Moderate Buy" with an average price target of $20.83.

Annaly Capital Management Inc (NYSE:NLY - Get Free Report)'s share price hit a new 52-week high on Thursday following a dividend announcement from the company. The stock traded as high as $22.45 and last traded at $22.11, with a volume of 9814835 shares changing hands. The stock had previously closed at $22.27.The newly announced dividend which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 12.7%. Annaly Capital Management's dividend payout ratio is presently 277.23%.

Analyst Ratings Changes

NLY has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Annaly Capital Management from $20.50 to $21.50 and gave the company an "outperform" rating in a research note on Friday, July 25th. Royal Bank Of Canada lowered their price objective on shares of 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. 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. Jones Trading reissued a "buy" rating and set a $21.00 price objective on shares of Annaly Capital Management in a research note on Thursday, July 24th. Finally, UBS Group boosted their price objective on shares of Annaly Capital Management from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Annaly Capital Management presently has a consensus rating of "Moderate Buy" and an average price target of $20.83.

Annaly Capital Management Trading Down 0.7%

The business's 50-day moving average is $20.61 and its two-hundred day moving average is $19.99. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $14.19 billion, a PE ratio of 21.89, a PEG ratio of 5.28 and a beta of 1.24.

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

Institutional Trading of Annaly Capital Management

A number of institutional investors have recently added to or reduced their stakes in NLY. Inlight Wealth Management LLC purchased a new position in Annaly Capital Management in the 1st quarter valued at about $25,000. Financial Gravity Companies Inc. purchased a new position in Annaly Capital Management in the 2nd quarter valued at about $25,000. Financial Gravity Asset Management Inc. purchased a new position in Annaly Capital Management in the 1st quarter valued at about $28,000. Twin Tree Management LP purchased a new position in Annaly Capital Management in the 1st quarter valued at about $29,000. Finally, Delos Wealth Advisors LLC purchased a new position in Annaly Capital Management in the 2nd quarter valued at about $28,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

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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