Annaly Capital Management Inc (NYSE:NLY) Receives $23.89 Consensus Target Price from Brokerages

Annaly Capital Management Inc (NYSE:NLY) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.1111.

A number of equities analysts have recently commented on NLY shares. Barclays set a $24.00 price target on shares of Annaly Capital Management and gave the company an “equal weight” rating in a research report on Friday, January 30th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 target price (up from $23.50) on shares of Annaly Capital Management in a research note on Thursday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Royal Bank Of Canada upped their price target on shares of Annaly Capital Management from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, January 21st.

Annaly Capital Management Price Performance

Shares of NYSE:NLY opened at $22.96 on Tuesday. The stock has a market capitalization of $15.68 billion, a P/E ratio of 8.26, a P/E/G ratio of 7.15 and a beta of 1.24. The business has a 50-day moving average of $23.08 and a two-hundred day moving average of $21.82. Annaly Capital Management has a fifty-two week low of $16.59 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%.The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $567.67 million. As a group, research analysts expect that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Annaly Capital Management’s payout ratio is currently 100.72%.

Institutional Investors Weigh In On Annaly Capital Management

Several hedge funds and other institutional investors have recently modified their holdings of NLY. AQR Capital Management LLC raised its stake in Annaly Capital Management by 111.8% during the 1st quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust’s stock valued at $1,154,000 after purchasing an additional 29,978 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Annaly Capital Management by 39.4% during the first quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 4,205 shares during the last quarter. Millennium Management LLC raised its position in shares of Annaly Capital Management by 17.4% during the first quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust’s stock valued at $11,003,000 after buying an additional 80,481 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Annaly Capital Management by 20.8% in the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 3,074 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Annaly Capital Management by 833.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust’s stock worth $59,318,000 after buying an additional 2,607,784 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Company Profile

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.