Annaly Capital Management, Inc., a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments. It has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders. The company was founded in 1996 and is based in New York, New York.
Annaly Capital Management Price Performance
NLY Stock traded down $0.05 during midday trading on Wednesday, hitting $6.74. The stock had a trading volume of 18,801,713 shares, compared to its average volume of 28,966,068. The firm has a market cap of $10.95 billion, a PE ratio of 2.67, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. The company's 50-day moving average price is $6.32 and its 200 day moving average price is $6.70. Annaly Capital Management has a 12-month low of $5.45 and a 12-month high of $8.94.
Annaly Capital Management (NYSE:NLY - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $475.14 million for the quarter, compared to analyst estimates of $399.39 million. Annaly Capital Management had a net margin of 178.91% and a return on equity of 16.72%. Annaly Capital Management's revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. As a group, sell-side analysts anticipate that Annaly Capital Management will post 1.08 EPS for the current year.
Annaly Capital Management Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 30th were issued a $0.22 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 13.06%. Annaly Capital Management's dividend payout ratio (DPR) is presently 34.92%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on NLY shares. Keefe, Bruyette & Woods raised shares of Annaly Capital Management from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $6.25 to $6.75 in a research note on Wednesday, June 8th. Piper Sandler dropped their price objective on shares of Annaly Capital Management from $6.50 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, June 28th. JPMorgan Chase & Co. dropped their price objective on shares of Annaly Capital Management from $7.50 to $6.50 and set an "overweight" rating for the company in a research note on Monday, April 25th. Barclays dropped their price objective on shares of Annaly Capital Management from $8.00 to $7.00 in a research note on Wednesday, April 27th. Finally, Credit Suisse Group lowered their target price on shares of Annaly Capital Management to $6.50 in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $6.67.
Insider Buying and Selling at Annaly Capital Management
In other Annaly Capital Management news, CEO David L. Finkelstein bought 200,000 shares of Annaly Capital Management stock in a transaction that occurred on Friday, June 17th. The shares were acquired at an average price of $5.56 per share, for a total transaction of $1,112,000.00. Following the acquisition, the chief executive officer now owns 1,669,013 shares of the company's stock, valued at approximately $9,279,712.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.31% of the stock is owned by company insiders.