Annaly Capital Management (NYSE:NLY) Hits New 12-Month High – Here’s Why

Annaly Capital Management Inc (NYSE:NLY)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $23.38 and last traded at $23.3580, with a volume of 2471010 shares changing hands. The stock had previously closed at $23.04.

Analyst Ratings Changes

Several research firms have recently weighed in on NLY. BTIG Research raised shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research report on Wednesday, October 8th. Piper Sandler reaffirmed 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, December 22nd. JPMorgan Chase & Co. lifted their price target on Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Royal Bank Of Canada boosted their price objective on Annaly Capital Management from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Annaly Capital Management Price Performance

The stock has a 50 day moving average of $22.32 and a 200 day moving average of $21.24. The firm has a market cap of $16.00 billion, a P/E ratio of 10.84, a PEG ratio of 7.17 and a beta of 1.25.

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, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $493.55 million. Annaly Capital Management had a return on equity of 15.96% and a net margin of 26.68%. On average, research analysts predict that Annaly Capital Management Inc will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders 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 yield of 12.0%. The ex-dividend date is Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio (DPR) is presently 129.63%.

Institutional Investors Weigh In On Annaly Capital Management

A number of institutional investors have recently made changes to their positions in NLY. Vanguard Group Inc. lifted its stake in Annaly Capital Management by 4.2% in the second quarter. Vanguard Group Inc. now owns 58,701,446 shares of the real estate investment trust’s stock worth $1,104,761,000 after purchasing an additional 2,344,867 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of Annaly Capital Management during the second quarter valued at about $429,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Annaly Capital Management by 7.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,083,953 shares of the real estate investment trust’s stock worth $76,860,000 after buying an additional 275,186 shares during the period. Meritage Portfolio Management increased its holdings in shares of Annaly Capital Management by 45.9% in the second quarter. Meritage Portfolio Management now owns 204,205 shares of the real estate investment trust’s stock worth $3,843,000 after buying an additional 64,216 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of Annaly Capital Management in the 2nd quarter valued at about $1,193,000. Hedge funds and other 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.