Annaly Capital Management (NYSE:NLY) Announces Earnings Results

Key Points

• Annaly Capital Management exceeded earnings expectations, reporting quarterly EPS of $0.80 versus the $0.77 consensus estimate. Revenue totaled $1.93 billion, well above analyst estimates of $637.41 million.
• The company declared a quarterly dividend of $0.75 per share, equal to $3.00 annually and a 16.4% yield, with a payout ratio of 75.19%.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $23.61, despite shares trading near $18.31.

Annaly Capital Management (NYSE:NLY - Get Free Report) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03, FiscalAI reports. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $637.41 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.

Annaly Capital Management Price Performance

Shares of NYSE:NLY traded up $0.59 during trading on Tuesday, reaching $18.31. 10,681,721 shares of the stock were exchanged, compared to its average volume of 8,330,290. Annaly Capital Management has a 1-year low of $17.70 and a 1-year high of $24.52. The stock has a fifty day moving average of $21.20 and a two-hundred day moving average of $21.90. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 4.59, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 16.4%. Annaly Capital Management's payout ratio is currently 75.19%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BTIG Research set a $21.00 target price on Annaly Capital Management and gave the company a "buy" rating in a research report on Tuesday, October 6th. Piper Sandler lowered their target price on Annaly Capital Management from $25.00 to $21.50 and set an "overweight" rating for the company in a report on Friday, October 9th. Wells Fargo & Company dropped their price target on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Zacks Research cut Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Annaly Capital Management in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.61.

About Annaly Capital Management

Annaly Capital Management, Inc is a diversified capital manager and mortgage real estate investment trust listed on the New York Stock Exchange under the symbol NLY. The company primarily invests in and manages residential mortgage-related assets, seeking to generate income through interest-rate spreads, financing, and portfolio management.

Annaly's investment activities have historically focused on agency mortgage-backed securities, which are backed by federally sponsored entities or government agencies.

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