Annaly Capital Management (NYSE:NLY) Announces Quarterly Earnings Results

Annaly Capital Management (NYSE:NLY) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, FiscalAI reports. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $637.41 million.

Annaly Capital Management Trading Up 3.3%

NLY stock traded up $0.59 during trading on Tuesday, hitting $18.31. The company had a trading volume of 10,714,791 shares, compared to its average volume of 8,341,114. The company has a market cap of $13.80 billion, a P/E ratio of 4.59, a P/E/G ratio of 1.43 and a beta of 1.21. The company has a fifty day moving average price of $21.20 and a two-hundred day moving average price of $21.90. Annaly Capital Management has a fifty-two week low of $17.70 and a fifty-two week high of $24.52.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 16.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management’s payout ratio is presently 75.19%.

Analyst Ratings Changes

Several equities research analysts recently commented on NLY shares. BTIG Research set a $21.00 price target on Annaly Capital Management and gave the company a “buy” rating in a research note on Tuesday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a report on Tuesday, October 6th. Piper Sandler cut their price objective on shares of Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company reduced their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.61.

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.