Annaly Capital Management (NYSE:NLY) Sets New 12-Month High at $21.20

Annaly Capital Management, Inc. (NYSE:NLY)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.20 and last traded at $21.20, with a volume of 58234 shares changing hands. The stock had previously closed at $20.82.

Analyst Ratings Changes

A number of brokerages have commented on NLY. Janney Montgomery Scott initiated coverage on shares of Annaly Capital Management in a report on Thursday, June 6th. They set a “buy” rating and a $21.00 price objective on the stock. StockNews.com lowered Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Compass Point upped their target price on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Annaly Capital Management from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $19.00 to $23.00 in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Annaly Capital Management Price Performance

The business’s 50-day moving average is $20.12 and its two-hundred day moving average is $19.67. The firm has a market cap of $10.45 billion, a P/E ratio of -21.53 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results 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 firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $318.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts predict that Annaly Capital Management, Inc. will post 2.67 EPS for the current year.

Annaly Capital Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, September 30th. This represents a $2.60 annualized dividend and a yield of 12.45%. Annaly Capital Management’s dividend payout ratio (DPR) is presently -268.04%.

Insider Transactions at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.05, for a total value of $1,002,500.00. Following the completion of the sale, the chief executive officer now owns 612,469 shares of the company’s stock, valued at $12,280,003.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors have recently modified their holdings of NLY. Nomura Asset Management Co. Ltd. boosted its stake in shares of Annaly Capital Management by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 159,622 shares of the real estate investment trust’s stock valued at $3,092,000 after purchasing an additional 4,079 shares in the last quarter. Natixis increased its holdings in Annaly Capital Management by 16,140.0% in the first quarter. Natixis now owns 68,208 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 67,788 shares in the last quarter. Norges Bank bought a new stake in Annaly Capital Management in the fourth quarter worth approximately $110,244,000. Cibc World Markets Corp bought a new position in shares of Annaly Capital Management during the 4th quarter worth approximately $3,496,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Annaly Capital Management by 27.3% in the 1st quarter. Russell Investments Group Ltd. now owns 169,043 shares of the real estate investment trust’s stock valued at $3,303,000 after acquiring an additional 36,269 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

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; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.