Annaly Capital Management (NYSE:NLY) Issues Earnings Results, Beats Estimates By $0.03 EPS

Annaly Capital Management (NYSE:NLY) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, FiscalAI reports. 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 return on equity of 16.00% and a net margin of 43.66%.

Annaly Capital Management Stock Up 3.3%

NLY opened at $18.31 on Wednesday. Annaly Capital Management has a 52 week low of $17.70 and a 52 week high of $24.52. The business has a 50 day moving average price of $21.11 and a two-hundred day moving average price of $21.88. The company has a market cap of $13.80 billion, a PE ratio of 4.59, a P/E/G ratio of 1.39 and a beta of 1.21.

Annaly Capital Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NLY shares. Piper Sandler decreased their price objective on Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating for the company in a report on Friday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. BTIG Research set a $21.00 target price on shares of Annaly Capital Management and gave the company a “buy” rating in a report on Tuesday, October 6th. Wells Fargo & Company reduced their price target on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.61.

Annaly Capital Management News Summary

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

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.