Annaly Capital Management (NYSE:NLY) Posts Earnings Results, Beats Expectations By $0.03 EPS

by · The Markets Daily

Annaly Capital Management (NYSE:NLY – Get Free Report) posted its earnings results on Tuesday. The real estate investment trust reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03, FiscalAI reports. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $637.41 million.

Annaly Capital Management Trading Up 3.3%

Shares of NLY traded up $0.59 during trading hours on Tuesday, reaching $18.31. 10,681,721 shares of the stock traded hands, compared to its average volume of 8,330,290. Annaly Capital Management has a 52 week low of $17.70 and a 52 week high of $24.52. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 4.59, a PEG ratio of 1.43 and a beta of 1.21. The stock has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $21.90.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management’s dividend payout ratio (DPR) is presently 75.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Zacks Research downgraded Annaly Capital Management from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. BTIG Research set a $21.00 target price on Annaly Capital Management and gave the company a “buy” rating in a report on Tuesday, October 6th. Piper Sandler cut their target price on Annaly Capital Management from $25.00 to $21.50 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. decreased their price target on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Read Our Latest Report on NLY

Annaly Capital Management Company Profile

(Get Free Report)

Annaly Capital Management, Inc is a diversified capital manager and mortgage real estate investment trust listed on the New York Stock Exchange under the symbol NLY. The company primarily invests in and manages residential mortgage-related assets, seeking to generate income through interest-rate spreads, financing, and portfolio management.

Annaly’s investment activities have historically focused on agency mortgage-backed securities, which are backed by federally sponsored entities or government agencies.

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