Annaly Capital Management, Inc. (NLY) to Issue Quarterly Dividend of $0.65 on January 31st

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

Annaly Capital Management has decreased its dividend 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 fall. 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 Stock Down 0.2 %

NYSE:NLY opened at $18.94 on Friday. The stock has a market cap of $10.62 billion, a P/E ratio of -270.57 and a beta of 1.51. The business’s 50-day moving average price is $19.51 and its two-hundred day moving average price is $19.81. Annaly Capital Management has a twelve month low of $17.67 and a twelve month high of $21.11.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Argus raised Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on 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, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

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.