Annaly Capital Management (NYSE:NLY) Shares Up 3.3% Following Better-Than-Expected Earnings

Annaly Capital Management Inc (NYSE:NLY)’s share price was up 3.3% during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $18.34 and last traded at $18.3090. Approximately 10,693,844 shares were traded during trading, an increase of 28% from the average daily volume of 8,330,290 shares. The stock had previously closed at $17.72.

The real estate investment trust reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $637.41 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.

Annaly Capital Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.00 annualized dividend and a yield of 16.4%. Annaly Capital Management’s dividend payout ratio is currently 75.19%.

Analysts Set New Price Targets

NLY has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Wells Fargo & Company dropped their price objective on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a report on Tuesday, October 6th. Zacks Research downgraded shares of Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Finally, BTIG Research set a $21.00 price target on shares of Annaly Capital Management and gave the company a “buy” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Annaly Capital Management presently has an average rating of “Moderate Buy” and a consensus price target of $23.61.

Institutional Investors Weigh In On Annaly Capital Management

Several institutional investors and hedge funds have recently bought and sold shares of NLY. Root Financial Partners LLC increased its stake in shares of Annaly Capital Management by 585.6% during the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 1,136 shares during the period. Markowski Investments bought a new stake in Annaly Capital Management in the second quarter valued at $37,000. SHP Wealth Management purchased a new position in Annaly Capital Management during the 4th quarter valued at $43,000. Fourth Dimension Wealth LLC raised its holdings in Annaly Capital Management by 30.3% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 500 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Annaly Capital Management during the 1st quarter valued at about $70,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Stock Up 3.3%

The company has a market cap of $13.80 billion, a PE ratio of 4.59, a PEG ratio of 1.43 and a beta of 1.21. The firm’s 50-day moving average is $21.20 and its 200-day moving average is $21.90.

About Annaly Capital Management

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.