Annaly Capital Management (NYSE:NLY) Hits New 12-Month High – Still a Buy?

Shares of Annaly Capital Management Inc (NYSE:NLY) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $22.93 and last traded at $22.8950, with a volume of 659731 shares trading hands. The stock had previously closed at $22.80.

Analyst Upgrades and Downgrades

NLY has been the subject of a number of recent research reports. Piper Sandler set a $22.50 price objective on shares of Annaly Capital Management and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada upped their target price on Annaly Capital Management from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Barclays set a $20.00 price target on Annaly Capital Management and gave the company a “cautious” rating in a research report on Monday, October 6th. Zacks Research lowered Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Jones Trading reiterated a “buy” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.71.

Annaly Capital Management Price Performance

The company has a current ratio of 0.09, a quick ratio of 0.11 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 6.47 and a beta of 1.27. The company’s 50 day moving average is $21.33 and its 200-day moving average is $20.59.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $493.55 million. Annaly Capital Management had a return on equity of 15.96% and a net margin of 26.68%. Equities research analysts anticipate that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date was Tuesday, September 30th. Annaly Capital Management’s dividend payout ratio is 129.63%.

Hedge Funds Weigh In On Annaly Capital Management

Several large investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new stake in shares of Annaly Capital Management during the 2nd quarter worth about $25,000. Twin Tree Management LP bought a new position in Annaly Capital Management in the 1st quarter valued at about $29,000. Delos Wealth Advisors LLC acquired a new stake in Annaly Capital Management during the second quarter worth approximately $28,000. Evolution Wealth Management Inc. bought a new stake in shares of Annaly Capital Management during the second quarter worth approximately $29,000. Finally, MCF Advisors LLC boosted its holdings in shares of Annaly Capital Management by 41.6% during the third quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 496 shares during the period. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Company Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.