Annaly Capital Management (NYSE:NLY) Shares Down 2.8% – Time to Sell?

Annaly Capital Management Inc (NYSE:NLY)’s share price was down 2.8% on Monday. The stock traded as low as $17.70 and last traded at $17.7160. 10,228,599 shares traded hands during trading, an increase of 23% from the average session volume of 8,328,308 shares. The stock had previously closed at $18.23.

Trending Headlines about Annaly Capital Management

Here are the key news stories impacting Annaly Capital Management this week:

• Positive Sentiment: Annaly reported third-quarter earnings available for distribution of $0.80 per share, exceeding the $0.77 consensus estimate and rising from $0.73 a year earlier. Net interest income increased to $543.6 million from $488.2 million in the prior quarter. Annaly Q3 earnings estimates article
• Positive Sentiment: The company declared its quarterly common-stock dividend of $0.75 per share, maintaining an important source of income for shareholders. Management’s mortgage-servicing portfolio also benefited from subdued refinancing activity, which can support servicing-fee revenue. Annaly Q3 earnings preview

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a report on Tuesday, October 6th. BTIG Research set a $21.00 target price on shares of Annaly Capital Management and gave the company a “buy” rating in a research note on Tuesday, October 6th. Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Piper Sandler lowered their price target on 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. Finally, JPMorgan Chase & Co. lowered their price target on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.61.

Annaly Capital Management Price Performance

The stock’s 50-day simple moving average is $21.11 and its 200 day simple moving average is $21.88. The stock has a market capitalization of $13.80 billion, a P/E ratio of 4.59, a PEG ratio of 1.39 and a beta of 1.21.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Tuesday, October 20th. The real estate investment trust reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $637.41 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. As a group, analysts expect that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of Annaly Capital Management by 6.7% in the second quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock worth $1,950,230,000 after purchasing an additional 5,485,296 shares during the period. State Street Corp raised its stake in Annaly Capital Management by 4.5% in the second quarter. State Street Corp now owns 29,426,379 shares of the real estate investment trust’s stock valued at $679,468,000 after purchasing an additional 1,272,235 shares in the last quarter. KBC Group NV raised its stake in Annaly Capital Management by 44.2% in the first quarter. KBC Group NV now owns 4,976,006 shares of the real estate investment trust’s stock valued at $105,243,000 after purchasing an additional 1,525,251 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Annaly Capital Management by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 4,962,690 shares of the real estate investment trust’s stock worth $104,961,000 after purchasing an additional 248,335 shares during the period. Finally, Amundi lifted its position in Annaly Capital Management by 35.2% during the first quarter. Amundi now owns 3,361,211 shares of the real estate investment trust’s stock worth $71,090,000 after purchasing an additional 875,331 shares during the period. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Company Profile

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.