Annaly Capital Management (NYSE:NLY) Reaches New 12-Month High – Should You Buy?

Annaly Capital Management Inc (NYSE:NLY)’s stock price hit a new 52-week high on Friday . The stock traded as high as $24.00 and last traded at $23.9050, with a volume of 359240 shares changing hands. The stock had previously closed at $23.83.

Wall Street Analyst Weigh In

Several research firms have commented on NLY. Barclays set a $23.00 target price on shares of Annaly Capital Management and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $23.50) on shares of Annaly Capital Management in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Jones Trading reissued a “buy” rating and set a $22.00 price target on shares of Annaly Capital Management in a report on Thursday, October 23rd. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average target price of $22.81.

Annaly Capital Management Stock Up 2.3%

The company has a 50 day moving average of $22.61 and a two-hundred day moving average of $21.45. The firm has a market cap of $16.65 billion, a P/E ratio of 11.29, a PEG ratio of 7.53 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share 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 during the quarter, compared to the consensus estimate of $493.55 million. Research analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share 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 $0.70 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.80 annualized dividend and a yield of 11.5%. Annaly Capital Management’s payout ratio is 129.63%.

Institutional Investors Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently modified their holdings of NLY. Financial Gravity Companies Inc. acquired a new position in shares of Annaly Capital Management in the 2nd quarter worth $25,000. Delos Wealth Advisors LLC acquired a new position in shares of Annaly Capital Management in the 2nd quarter valued at $28,000. Evolution Wealth Management Inc. acquired a new position in shares of Annaly Capital Management in the 2nd quarter valued at $29,000. MCF Advisors LLC increased its stake in Annaly Capital Management by 41.6% in the 3rd quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 496 shares in the last quarter. Finally, Elevation Wealth Partners LLC acquired a new stake in Annaly Capital Management during the 4th quarter worth about $39,000. 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.