Analysts Set Annaly Capital Management Inc (NYSE:NLY) PT at $24.33

Shares of Annaly Capital Management Inc (NYSE:NLY) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $24.3333.

Several equities research analysts recently commented on NLY shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. JPMorgan Chase & Co. dropped their price target on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, July 24th. Zacks Research upgraded Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, June 17th.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Horizon Investments LLC bought a new position in Annaly Capital Management in the fourth quarter worth approximately $7,946,000. Vanguard Group Inc. grew its stake in Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the period. DNB Asset Management AS increased its holdings in shares of Annaly Capital Management by 165.4% during the fourth quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock valued at $7,514,000 after acquiring an additional 209,435 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Annaly Capital Management by 3.9% during the fourth quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock valued at $44,379,000 after acquiring an additional 74,074 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Annaly Capital Management during the fourth quarter valued at approximately $162,477,000. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Stock Up 0.5%

NLY stock opened at $23.27 on Friday. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 6.05 and a beta of 1.16. Annaly Capital Management has a 12-month low of $20.00 and a 12-month high of $24.52. The company’s fifty day simple moving average is $22.81 and its 200 day simple moving average is $22.38.

Annaly Capital Management (NYSE:NLY) 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 analysts’ consensus estimates of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $639.80 million. Research analysts expect that Annaly Capital Management will post 3.09 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a $0.75 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 12.9%. Annaly Capital Management’s dividend payout ratio is 75.19%.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.