Annaly Capital Management (NYSE:NLY) Sets New 52-Week High – Here’s Why

Annaly Capital Management, Inc. (NYSE:NLY) shares hit a new 52-week high on Wednesday . The company traded as high as $21.88 and last traded at $21.88, with a volume of 3363314 shares changing hands. The stock had previously closed at $21.66.

Wall Street Analyst Weigh In

Several research firms recently commented on NLY. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price target on shares of Annaly Capital Management in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price objective on Annaly Capital Management from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. Barclays assumed coverage on Annaly Capital Management in a research report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price on the stock. Finally, Argus upgraded Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average price target of $21.44.

Annaly Capital Management Price Performance

The firm has a market cap of $12.69 billion, a P/E ratio of 13.81, a PEG ratio of 4.89 and a beta of 1.52. The company’s 50 day moving average is $19.71 and its two-hundred day moving average is $19.82.

Annaly Capital Management (NYSE:NLY) last announced its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. Research analysts predict that Annaly Capital Management, Inc. will post 2.81 EPS for the current year.

Annaly Capital Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 11.85%. The ex-dividend date of this dividend was Tuesday, December 31st. Annaly Capital Management’s dividend payout ratio (DPR) is presently 163.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC lifted its position in shares of Annaly Capital Management by 93.1% during the 4th quarter. Stratos Wealth Advisors LLC now owns 275,559 shares of the real estate investment trust’s stock worth $5,043,000 after buying an additional 132,891 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Annaly Capital Management by 9.9% during the third quarter. Wellington Management Group LLP now owns 537,125 shares of the real estate investment trust’s stock valued at $10,780,000 after acquiring an additional 48,555 shares during the period. Citigroup Inc. boosted its stake in shares of Annaly Capital Management by 22.6% in the 3rd quarter. Citigroup Inc. now owns 652,255 shares of the real estate investment trust’s stock valued at $13,091,000 after purchasing an additional 120,163 shares in the last quarter. Howard Financial Services LTD. bought a new stake in shares of Annaly Capital Management in the 4th quarter worth about $527,000. Finally, Tandem Financial LLC acquired a new stake in shares of Annaly Capital Management during the 4th quarter worth about $327,000. 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.