Annaly Capital Management (NYSE:NLY) Sets New 1-Year High Following Dividend Announcement

Annaly Capital Management Inc (NYSE:NLY)’s stock price reached a new 52-week high during trading on Thursday after the company announced a dividend. The stock traded as high as $22.45 and last traded at $22.11, with a volume of 9814835 shares traded. The stock had previously closed at $22.27.

The newly announced dividend which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.80 annualized dividend and a yield of 12.6%. Annaly Capital Management’s dividend payout ratio is 277.23%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research cut Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. UBS Group increased their price target on Annaly Capital Management from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their price target on Annaly Capital Management from $20.50 to $21.50 and gave the company an “outperform” rating in a research report on Friday, July 25th. Royal Bank Of Canada dropped their price objective on Annaly Capital Management from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 27th. Finally, Jones Trading restated a “buy” rating and issued a $21.00 price objective on shares of Annaly Capital Management in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.83.

Annaly Capital Management Stock Performance

The company has a market cap of $14.23 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 5.24 and a beta of 1.24. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $20.67 and a two-hundred day moving average price of $20.00.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $273.20 million for the quarter, compared to analyst estimates of $237.00 million. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%. On average, research analysts predict that Annaly Capital Management Inc will post 2.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annaly Capital Management

A number of large investors have recently made changes to their positions in NLY. Norges Bank bought a new position in shares of Annaly Capital Management during the second quarter worth approximately $130,626,000. Kingstone Capital Partners Texas LLC bought a new position in shares of Annaly Capital Management during the second quarter worth approximately $100,216,000. Goldman Sachs Group Inc. increased its stake in shares of 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 purchasing an additional 2,607,784 shares during the period. Vanguard Group Inc. increased its stake in shares of Annaly Capital Management by 4.2% during 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 period. Finally, Nuveen LLC bought a new position in Annaly Capital Management during the 1st quarter worth $37,580,000. Institutional investors own 51.56% of the company’s stock.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.