Annaly Capital Management (NYSE:NLY) Reaches New 52-Week High – Still a Buy?

Annaly Capital Management Inc (NYSE:NLY)’s share price reached 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.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $23.50 price target (up previously from $22.50) on shares of Annaly Capital Management in a report on Monday. Royal Bank Of Canada increased their price objective on Annaly Capital Management from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Barclays set a $20.00 target price on Annaly Capital Management and gave the stock a “cautious” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. upped their price objective on Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Finally, UBS Group lifted their price objective on Annaly Capital Management from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Annaly Capital Management has an average rating of “Hold” and an average target price of $21.86.

Annaly Capital Management Trading Up 1.5%

The company has a 50 day simple moving average of $21.79 and a 200 day simple moving average of $20.91. The stock has a market cap of $15.74 billion, a P/E ratio of 10.66, a PEG ratio of 7.11 and a beta of 1.26.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Annaly Capital Management had a net margin of 26.68% and a return on equity of 15.96%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $493.55 million. As a group, sell-side analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid 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 currently 129.63%.

Institutional Trading of Annaly Capital Management

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Annaly Capital Management during the 2nd quarter worth approximately $25,000. Delos Wealth Advisors LLC bought a new position in shares of Annaly Capital Management in the second quarter valued at $28,000. Twin Tree Management LP acquired a new position in Annaly Capital Management during the first quarter worth $29,000. Evolution Wealth Management Inc. bought a new stake in Annaly Capital Management during the second quarter worth $29,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Annaly Capital Management in the second quarter valued at $34,000. Institutional investors 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.