Annaly Capital Management (NYSE:NLY) Sets New 52-Week Low – Here’s What Happened

Annaly Capital Management Inc (NYSE:NLY) shares reached a new 52-week low during trading on Thursday. The company traded as low as $17.61 and last traded at $17.6260, with a volume of 11,426,364 shares changing hands. The stock had previously closed at $18.33.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NLY shares. Royal Bank Of Canada set a $21.00 price objective on shares of Annaly Capital Management and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Zacks Research cut shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. Wells Fargo & Company set a $22.00 target price on shares of Annaly Capital Management and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Weiss Ratings downgraded shares of Annaly Capital Management from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 29th. Finally, Piper Sandler cut their price target on shares of Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating on the stock in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Annaly Capital Management currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Annaly Capital Management Stock Down 4.2%

The company has a fifty day moving average of $19.60 and a two-hundred day moving average of $21.75. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.43 and a beta of 1.24.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Tuesday, October 20th. 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. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $637.41 million. Annaly Capital Management had a net margin of 15.52% and a return on equity of 16.65%. Equities analysts anticipate that Annaly Capital Management Inc will post 3.13 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $3.00 annualized dividend and a yield of 17.1%. Annaly Capital Management’s payout ratio is currently 209.79%.

Insider Activity at Annaly Capital Management

In other Annaly Capital Management news, Director Scott Wede purchased 50,000 shares of Annaly Capital Management stock in a transaction on Friday, November 6th. The shares were bought at an average price of $18.80 per share, with a total value of $940,000.00. Following the completion of the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at approximately $940,000. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annaly Capital Management

Hedge funds and other institutional investors have recently modified their holdings of the company. HUB Investment Partners LLC raised its holdings in Annaly Capital Management by 3.3% in the 2nd 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 during the last quarter. Quadcap Wealth Management LLC grew its position in shares of 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 valued at $463,000 after purchasing an additional 495 shares during the period. Fourth Dimension Wealth LLC grew its position in shares of 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 valued at $48,000 after purchasing an additional 500 shares during the period. Blueprint Financial Advisors LLC grew its position in shares of Annaly Capital Management by 4.1% in the third quarter. Blueprint Financial Advisors LLC now owns 14,944 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 585 shares during the period. Finally, Blueprint Investment Partners LLC increased its stake in Annaly Capital Management by 4.1% in the third quarter. Blueprint Investment Partners LLC now owns 15,107 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 590 shares during the last quarter. 51.56% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc. is a mortgage real estate investment trust (REIT) that invests in assets tied to the U.S. housing and mortgage markets. Its portfolio includes agency mortgage-backed securities, residential credit investments and mortgage servicing rights. The company’s agency investments include mortgage-backed securities whose principal and interest payments are guaranteed by government-sponsored enterprises or government agencies. Its residential credit activities include investments in mortgage loans and securities that do not carry those guarantees, while its servicing rights relate to the collection and administration of mortgage payments.