Annaly Capital Management (NYSE:NLY) Issues Quarterly Earnings Results

25 Oct 2024, 20:49 by Amy Steele · The Cerbat Gem

Annaly Capital Management (NYSE:NLY – Get Free Report) issued its earnings results on Wednesday. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01), Yahoo Finance reports. Annaly Capital Management had a positive return on equity of 15.24% and a negative net margin of 12.02%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $212.00 million. During the same quarter in the prior year, the business earned $0.66 EPS.

Annaly Capital Management Stock Down 1.2 %

Shares of NYSE NLY traded down $0.23 during trading hours on Friday, reaching $19.47. 5,519,914 shares of the stock traded hands, compared to its average volume of 4,057,654. The company has a market capitalization of $10.48 billion, a P/E ratio of -14.92 and a beta of 1.51. Annaly Capital Management has a 52-week low of $14.52 and a 52-week high of $21.11. The company’s 50-day simple moving average is $20.10 and its two-hundred day simple moving average is $19.74.

Annaly Capital Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.35%. Annaly Capital Management’s dividend payout ratio is -195.49%.

Insider Activity at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the transaction, the chief executive officer now directly owns 612,469 shares of the company’s stock, valued at approximately $12,280,003.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NLY shares. StockNews.com downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday. Compass Point lifted their price target on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Wednesday, August 28th. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $23.00 in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.38.

Check Out Our Latest Analysis on NLY

About Annaly Capital Management

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