Annaly Capital Management, Inc. (NLY) to Issue Quarterly Dividend of $0.65 on October 31st

Annaly Capital Management, Inc. (NYSE:NLY) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.65 per share by the real estate investment trust on Thursday, October 31st. This represents a $2.60 annualized dividend and a dividend yield of 12.84%. The ex-dividend date of this dividend is Monday, September 30th.

Annaly Capital Management has decreased its dividend by an average of 2.0% per year over the last three years. Annaly Capital Management has a payout ratio of 93.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Annaly Capital Management to earn $2.73 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 95.2%.

Annaly Capital Management Stock Up 0.1 %

Shares of NYSE NLY traded up $0.03 during trading on Thursday, hitting $20.25. The company had a trading volume of 670,619 shares, compared to its average volume of 3,685,381. Annaly Capital Management has a fifty-two week low of $14.52 and a fifty-two week high of $21.07. The stock has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $19.61. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of -20.87 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $318.00 million. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. During the same period in the previous year, the firm posted $0.72 EPS. On average, analysts anticipate that Annaly Capital Management will post 2.67 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. StockNews.com downgraded shares of Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Janney Montgomery Scott initiated coverage on Annaly Capital Management in a report on Thursday, June 6th. They set a “buy” rating and a $21.00 target price on the stock. Compass Point upped their price target on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Annaly Capital Management from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.14.

Insiders Place Their Bets

In related news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the transaction, the chief executive officer now owns 612,469 shares of the company’s stock, valued at approximately $12,280,003.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is owned by insiders.

Annaly Capital Management Company Profile

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.