Annaly Capital Management Inc Declares Quarterly Dividend of $0.75 (NYSE:NLY)

Annaly Capital Management Inc (NYSE:NLY) declared a quarterly dividend on Wednesday, September 9th. Investors of record on Wednesday, September 30th will be given a dividend of 0.75 per share by the real estate investment trust on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Wednesday, September 30th.

Annaly Capital Management has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Annaly Capital Management has a payout ratio of 103.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Annaly Capital Management to earn $3.08 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 97.4%.

Annaly Capital Management Price Performance

Shares of NYSE:NLY opened at $22.59 on Thursday. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 5.66, a PEG ratio of 1.79 and a beta of 1.16. The firm has a 50 day simple moving average of $22.91 and a 200 day simple moving average of $22.38. Annaly Capital Management has a one year low of $20.00 and a one year high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its earnings results 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 firm had revenue of $1.82 billion for 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, analysts expect that Annaly Capital Management will post 3.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NLY. BTIG Research set a $24.00 price objective on Annaly Capital Management in a report on Wednesday, June 17th. Wells Fargo & Company lowered their target price on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, July 23rd. Piper Sandler lifted their price target on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Finally, Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc is a Maryland-based mortgage real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is providing capital to the U.S. housing market through investments in agency mortgage-backed securities, which are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.

In addition to agency securities, Annaly invests in residential credit assets and mortgage servicing rights. These investments provide exposure to different segments of the residential mortgage market, while the company uses financing, hedging and portfolio management strategies to manage interest-rate and other market risks.

Founded in 1996, Annaly primarily operates in the United States and is internally managed.