Annaly Capital Management (NYSE:NLY) Sets New 52-Week Low - What's Next?

Key Points

• Annaly Capital Management shares fell to a new 52-week low of $17.75, well below their 50-day and 200-day moving averages of $21.31 and $21.92, respectively.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $23.61, despite several recent target-price reductions.
• Annaly reported quarterly earnings of $0.79 per share, exceeding estimates, and declared a $0.75 quarterly dividend, equivalent to a 16.8% annualized yield.

Annaly Capital Management Inc (NYSE:NLY - Get Free Report) shares hit a new 52-week low on Monday. The company traded as low as $17.75 and last traded at $17.8950, with a volume of 1,766,040 shares. The stock had previously closed at $18.23.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NLY shares. JPMorgan Chase & Co. lowered their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Zacks Research downgraded Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Weiss Ratings restated a "hold (c)" rating on shares of Annaly Capital Management in a research note on Tuesday, October 6th. Wells Fargo & Company reduced their price objective on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Finally, Piper Sandler lowered their price objective on Annaly Capital Management from $25.00 to $21.50 and set an "overweight" rating for the company in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.61.

Annaly Capital Management Price Performance

The business has a 50-day moving average of $21.31 and a 200 day moving average of $21.92. The company has a market cap of $13.47 billion, a PE ratio of 4.48, a PEG ratio of 1.43 and a beta of 1.21.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. On average, equities analysts predict that Annaly Capital Management Inc will post 3.09 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management's dividend payout ratio (DPR) is presently 75.19%.

Institutional Trading of Annaly Capital Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NFSG Corp increased its holdings in shares of Annaly Capital Management by 6.7% during the 3rd quarter. NFSG Corp now owns 127,107 shares of the real estate investment trust's stock worth $2,401,000 after buying an additional 8,036 shares during the last quarter. Howard Financial Services LTD. lifted its holdings in Annaly Capital Management by 2.4% in the third quarter. Howard Financial Services LTD. now owns 46,764 shares of the real estate investment trust's stock valued at $883,000 after acquiring an additional 1,092 shares during the last quarter. Columbus Macro LLC lifted its holdings in Annaly Capital Management by 6.2% in the third quarter. Columbus Macro LLC now owns 607,136 shares of the real estate investment trust's stock valued at $11,469,000 after acquiring an additional 35,633 shares during the last quarter. Triumph Capital Management grew its position in Annaly Capital Management by 9.4% in the third quarter. Triumph Capital Management now owns 88,506 shares of the real estate investment trust's stock worth $1,682,000 after acquiring an additional 7,604 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in Annaly Capital Management by 866.1% in the third quarter. B. Riley Wealth Advisors Inc. now owns 161,005 shares of the real estate investment trust's stock worth $3,041,000 after acquiring an additional 144,339 shares during the period. Hedge funds and other institutional investors own 51.56% of the company's stock.

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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