Annaly Capital Management (NYSE:NLY) Sets New 52-Week High – What’s Next?

Shares of Annaly Capital Management Inc (NYSE:NLY) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.98 and last traded at $22.98, with a volume of 1763671 shares changing hands. The stock had previously closed at $22.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on Annaly Capital Management from $21.00 to $23.00 and gave the stock an “outperform” rating in a research 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 report on Monday, October 6th. Jones Trading reiterated a “buy” rating and issued a $22.00 price objective on shares of Annaly Capital Management in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.86.

Annaly Capital Management Trading Up 1.5%

The stock’s 50-day simple moving average is $21.79 and its 200-day simple moving average is $20.91. The stock has a market cap of $15.74 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 7.11 and a beta of 1.26.

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

Annaly Capital Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio is presently 129.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NLY. Raymond James Financial Inc. increased its holdings in Annaly Capital Management by 18.6% in the 1st quarter. Raymond James Financial Inc. now owns 821,476 shares of the real estate investment trust’s stock valued at $16,684,000 after buying an additional 128,813 shares during the period. Compound Planning Inc. boosted its position in shares of Annaly Capital Management by 26.2% during the 1st quarter. Compound Planning Inc. now owns 15,801 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 3,276 shares in the last quarter. Allstate Corp boosted its position in shares of Annaly Capital Management by 108.9% during the 1st quarter. Allstate Corp now owns 33,020 shares of the real estate investment trust’s stock worth $671,000 after acquiring an additional 17,217 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Annaly Capital Management by 4.0% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 107,202 shares of the real estate investment trust’s stock valued at $2,177,000 after acquiring an additional 4,139 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Annaly Capital Management by 49.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,753 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 2,898 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.