Annaly Capital Management Inc (NYSE:NLY) Stock Has Consensus Price Target of $23.61 According to Brokerages

Shares of Annaly Capital Management Inc (NYSE:NLY) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.61.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. BTIG Research set a $21.00 price objective on Annaly Capital Management and gave the stock a “buy” rating in a report on Tuesday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a report on Tuesday, October 6th. Finally, Piper Sandler decreased their target price on Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating for the company in a research report on Friday, October 9th.

Annaly Capital Management Trading Up 1.6%

NYSE NLY opened at $18.45 on Friday. The stock has a market cap of $13.91 billion, a PE ratio of 4.63, a PEG ratio of 1.43 and a beta of 1.21. Annaly Capital Management has a 12 month low of $17.76 and a 12 month high of $24.52. The company’s 50-day moving average price is $21.40 and its 200-day moving average price is $21.94.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. As a group, sell-side analysts forecast that Annaly Capital Management will post 3.09 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 16.3%. Annaly Capital Management’s dividend payout ratio is presently 75.19%.

Hedge Funds Weigh In On Annaly Capital Management

Institutional investors have recently made changes to their positions in the company. HUB Investment Partners LLC raised its holdings in shares of Annaly Capital Management by 3.3% in the second quarter. HUB Investment Partners LLC now owns 14,668 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 462 shares in the last quarter. Quadcap Wealth Management LLC lifted its stake in Annaly Capital Management by 2.3% in the first quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after acquiring an additional 495 shares during the period. Fourth Dimension Wealth LLC lifted its stake in Annaly Capital Management by 30.3% in the second quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 500 shares during the period. Strs Ohio grew its holdings in Annaly Capital Management by 3.3% during the 1st quarter. Strs Ohio now owns 16,920 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 548 shares in the last quarter. Finally, Sigma Planning Corp grew its holdings in Annaly Capital Management by 2.4% during the 2nd quarter. Sigma Planning Corp now owns 25,979 shares of the real estate investment trust’s stock worth $581,000 after acquiring an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

About Annaly Capital Management

Annaly Capital Management, Inc is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.