Annaly Capital Management (NYSE:NLY) Announces Earnings Results

Annaly Capital Management (NYSE:NLY) announced its earnings results on Tuesday. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04, FiscalAI reports. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The business had revenue of $892.86 million during the quarter, compared to the consensus estimate of $639.80 million.

Annaly Capital Management Stock Performance

Shares of NYSE NLY traded down $0.05 during midday trading on Tuesday, reaching $22.65. 5,883,289 shares of the company traded hands, compared to its average volume of 7,669,158. Annaly Capital Management has a 12 month low of $19.92 and a 12 month high of $24.52. The firm has a market cap of $16.60 billion, a PE ratio of 7.65, a PEG ratio of 6.93 and a beta of 1.16. The stock’s 50-day simple moving average is $22.13 and its 200-day simple moving average is $22.46.

Annaly Capital Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.75 per share. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 13.2%. Annaly Capital Management’s dividend payout ratio is 101.35%.

Institutional Trading of Annaly Capital Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mcguire Capital Advisors Inc. acquired a new position in Annaly Capital Management during the 4th quarter valued at about $31,000. Compound Planning Inc. increased its position in shares of Annaly Capital Management by 54.8% in the 4th quarter. Compound Planning Inc. now owns 27,926 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 9,882 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Annaly Capital Management by 6.2% in the fourth quarter. Invesco Ltd. now owns 2,862,209 shares of the real estate investment trust’s stock worth $63,999,000 after acquiring an additional 165,854 shares in the last quarter. Corient Private Wealth LLC increased its stake in Annaly Capital Management by 27.5% during the 4th quarter. Corient Private Wealth LLC now owns 48,187 shares of the real estate investment trust’s stock worth $1,077,000 after purchasing an additional 10,382 shares in the last quarter. Finally, Royal Capital Wealth Management LLC increased its position in shares of Annaly Capital Management by 50.0% during the fourth quarter. Royal Capital Wealth Management LLC now owns 14,850 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 4,950 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NLY shares. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Friday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. UBS Group reaffirmed a “neutral” rating and set a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Finally, Piper Sandler increased their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.67.

About Annaly Capital Management

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.