Annaly Capital Management (NYSE:NLY) Shares Down 2.8% – What’s Next?

Annaly Capital Management Inc (NYSE:NLY) was down 2.8% during trading on Monday. The stock traded as low as $17.70 and last traded at $17.7160. 10,228,599 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 8,328,308 shares. The stock had previously closed at $18.23.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Piper Sandler reduced their price target on shares of Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating for the company in a research report on Friday, October 9th. BTIG Research set a $21.00 price target on shares of Annaly Capital Management and gave the company a “buy” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Tuesday, October 6th. One investment 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

Annaly Capital Management Price Performance

The firm has a market cap of $13.35 billion, a PE ratio of 4.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.21. The stock’s fifty day moving average price is $21.31 and its 200-day moving average price is $21.92.

Annaly Capital Management (NYSE:NLY) last released its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business 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%. On average, sell-side analysts anticipate that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 16.9%. Annaly Capital Management’s dividend payout ratio is currently 75.19%.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Annaly Capital Management by 6.7% in the 2nd quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust’s stock valued at $1,950,230,000 after purchasing an additional 5,485,296 shares during the last quarter. State Street Corp grew its stake in shares of Annaly Capital Management by 4.5% in the 2nd quarter. State Street Corp now owns 29,426,379 shares of the real estate investment trust’s stock valued at $679,468,000 after buying an additional 1,272,235 shares during the period. KBC Group NV increased its holdings in shares of Annaly Capital Management by 44.2% during the 1st quarter. KBC Group NV now owns 4,976,006 shares of the real estate investment trust’s stock worth $105,243,000 after buying an additional 1,525,251 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Annaly Capital Management by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,962,690 shares of the real estate investment trust’s stock worth $104,961,000 after buying an additional 248,335 shares during the last quarter. Finally, Amundi increased its holdings in shares of Annaly Capital Management by 35.2% during the 1st quarter. Amundi now owns 3,361,211 shares of the real estate investment trust’s stock worth $71,090,000 after buying an additional 875,331 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors and hedge funds.

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.