Annaly Capital Management (NYSE:NLY) Hits New 1-Year High – What’s Next?

Annaly Capital Management, Inc. (NYSE:NLY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.59 and last traded at $21.55, with a volume of 6745043 shares trading hands. The stock had previously closed at $21.41.

Wall Street Analysts Forecast Growth

NLY has been the subject of a number of analyst reports. Argus upgraded Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Annaly Capital Management from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Annaly Capital Management in a research note on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Finally, Barclays started coverage on shares of Annaly Capital Management in a report on Monday, January 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.44.

Annaly Capital Management Stock Performance

The firm has a 50-day moving average price of $19.63 and a 200 day moving average price of $19.80. The stock has a market capitalization of $12.51 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 4.85 and a beta of 1.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. On average, equities analysts anticipate that Annaly Capital Management, Inc. will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 12.02%. Annaly Capital Management’s payout ratio is 163.52%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Annaly Capital Management by 12.0% during the 4th quarter. Vanguard Group Inc. now owns 54,721,696 shares of the real estate investment trust’s stock worth $1,001,407,000 after acquiring an additional 5,859,104 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Annaly Capital Management by 31.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,426,571 shares of the real estate investment trust’s stock worth $630,007,000 after purchasing an additional 8,272,674 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Annaly Capital Management by 0.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,099,719 shares of the real estate investment trust’s stock worth $332,665,000 after purchasing an additional 109,655 shares during the last quarter. State Street Corp increased its stake in shares of Annaly Capital Management by 1.3% in the third quarter. State Street Corp now owns 17,400,024 shares of the real estate investment trust’s stock worth $360,296,000 after buying an additional 223,294 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Annaly Capital Management by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 9,453,133 shares of the real estate investment trust’s stock valued at $172,706,000 after acquiring an additional 814,917 shares during the last quarter. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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.