Annaly Capital Management, Inc. (NYSE:NLY) Declares $0.65 Quarterly Dividend

Annaly Capital Management, Inc. (NYSE:NLY) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.65 per share by the real estate investment trust on Friday, January 31st. This represents a $2.60 dividend on an annualized basis and a yield of 13.73%. The ex-dividend date is Tuesday, December 31st.

Annaly Capital Management has decreased its dividend payment by an average of 2.0% annually over the last three years. Annaly Capital Management has a payout ratio of 94.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Annaly Capital Management to earn $2.65 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 98.1%.

Annaly Capital Management Trading Down 0.2 %

Shares of NYSE:NLY opened at $18.94 on Friday. The company has a market cap of $10.62 billion, a price-to-earnings ratio of -270.57 and a beta of 1.51. Annaly Capital Management has a 12 month low of $17.67 and a 12 month high of $21.11. The company has a 50-day moving average price of $19.51 and a 200-day moving average price of $19.81.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $212.00 million. During the same period in the previous year, the company earned $0.66 EPS. As a group, research analysts forecast that Annaly Capital Management will post 2.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NLY has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of 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 report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. Finally, Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Annaly Capital Management currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Annaly Capital Management Company Profile

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.