Annaly Capital Management (NYSE:NLY) Issues Earnings Results, Beats Expectations By $0.02 EPS

Annaly Capital Management (NYSE:NLY) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02, Zacks reports. Annaly Capital Management had a return on equity of 15.96% and a net margin of 26.68%.

Annaly Capital Management Trading Down 0.5%

Shares of NLY traded down $0.12 during midday trading on Wednesday, reaching $24.25. The stock had a trading volume of 5,608,534 shares, compared to its average volume of 8,495,626. Annaly Capital Management has a one year low of $16.59 and a one year high of $24.52. The firm has a market cap of $16.56 billion, a PE ratio of 11.22, a P/E/G ratio of 7.36 and a beta of 1.25. The firm has a 50 day simple moving average of $22.93 and a 200-day simple moving average of $21.68.

Annaly Capital Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio is presently 129.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BTIG Research upgraded Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, January 21st. Barclays set a $23.00 price target on shares of Annaly Capital Management and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Jones Trading reaffirmed a “buy” rating and set a $22.00 price target on shares of Annaly Capital Management in a report on Thursday, October 23rd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.81.

Institutional Trading of Annaly Capital Management

Several institutional investors have recently added to or reduced their stakes in NLY. CIBC Private Wealth Group LLC grew its stake in Annaly Capital Management by 23.9% during the third quarter. CIBC Private Wealth Group LLC now owns 2,859 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 552 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Annaly Capital Management in the third quarter valued at approximately $3,849,000. Sunbelt Securities Inc. boosted its holdings in shares of Annaly Capital Management by 242.5% during the 3rd quarter. Sunbelt Securities Inc. now owns 28,638 shares of the real estate investment trust’s stock valued at $579,000 after acquiring an additional 20,276 shares in the last quarter. Danske Bank A S bought a new stake in shares of Annaly Capital Management during the third quarter worth about $23,803,000. Finally, Advisory Services Network LLC grew its holdings in Annaly Capital Management by 2.9% during the 3rd quarter. Advisory Services Network LLC now owns 103,686 shares of the real estate investment trust’s stock worth $2,095,000 after acquiring an additional 2,937 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors.

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.