Analysts Set Annaly Capital Management, Inc. (NYSE:NLY) Price Target at $21.31

Shares of Annaly Capital Management, Inc. (NYSE:NLY) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.00.

NLY has been the topic of a number of research analyst reports. Jonestrading reaffirmed a “buy” rating and issued a $21.00 price target on shares of Annaly Capital Management in a research note on Thursday, August 3rd. StockNews.com began coverage on shares of Annaly Capital Management in a research note on Thursday, August 17th. They set a “sell” rating for the company. Piper Sandler upped their price objective on shares of Annaly Capital Management from $21.50 to $22.00 in a research note on Friday, July 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research note on Tuesday, August 1st. Finally, UBS Group raised shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and upped their price objective for the company from $21.00 to $24.00 in a research note on Monday.

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $20.66 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.95. The company’s 50-day simple moving average is $19.98 and its 200-day simple moving average is $19.56. Annaly Capital Management has a 52-week low of $15.11 and a 52-week high of $24.68.

Annaly Capital Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a $0.65 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.60 annualized dividend and a dividend yield of 12.59%. Annaly Capital Management’s dividend payout ratio (DPR) is -62.20%.

Hedge Funds Weigh In On Annaly Capital Management

A number of hedge funds have recently modified their holdings of NLY. Goldman Sachs Group Inc. grew its holdings in shares of Annaly Capital Management by 166.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 14,866,079 shares of the real estate investment trust’s stock worth $87,858,000 after purchasing an additional 9,279,874 shares during the period. State Street Corp boosted its position in shares of Annaly Capital Management by 14.0% during the 2nd quarter. State Street Corp now owns 34,722,698 shares of the real estate investment trust’s stock worth $212,614,000 after purchasing an additional 4,263,394 shares during the period. Norges Bank purchased a new position in shares of Annaly Capital Management during the 4th quarter worth approximately $83,248,000. Vanguard Group Inc. boosted its position in shares of Annaly Capital Management by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 132,287,354 shares of the real estate investment trust’s stock worth $931,303,000 after purchasing an additional 3,668,441 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Annaly Capital Management by 274,965.9% during the 1st quarter. Balyasny Asset Management L.P. now owns 3,168,759 shares of the real estate investment trust’s stock worth $60,555,000 after purchasing an additional 3,167,607 shares during the period. 49.16% of the stock is currently 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; residential mortgage loans; and agency or private label credit risk transfer securities.