Annaly Capital Management’s (NLY) “Buy” Rating Reiterated at Jones Trading

Jones Trading reaffirmed their buy rating on shares of Annaly Capital Management (NYSE:NLY) in a research note published on Friday morning,Benzinga reports. They currently have a $21.00 price objective on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on NLY. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research note on Thursday, January 23rd. Barclays initiated coverage on shares of Annaly Capital Management in a research report on Monday, January 6th. They set an “equal weight” rating and a $19.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Annaly Capital Management in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Annaly Capital Management from $21.00 to $20.15 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.10.

Annaly Capital Management Price Performance

NYSE NLY opened at $19.32 on Friday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 4.89 and a beta of 1.25. The business’s fifty day moving average is $19.99 and its 200-day moving average is $19.78. Annaly Capital Management has a one year low of $16.60 and a one year high of $22.11.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $186.64 million during the quarter, compared to analyst estimates of $418.04 million. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. Research analysts expect that Annaly Capital Management will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.80 annualized dividend and a yield of 14.49%. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s payout ratio is presently 314.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new stake in Annaly Capital Management in the 1st quarter worth $25,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Annaly Capital Management during the first quarter worth about $28,000. Blue Trust Inc. grew its stake in shares of Annaly Capital Management by 78.5% in the fourth quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 717 shares during the last quarter. Assetmark Inc. purchased a new position in Annaly Capital Management during the 4th quarter valued at about $31,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Annaly Capital Management during the 1st quarter valued at approximately $36,000. 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.