Annaly Capital Management (NYSE:NLY) Reaches New 52-Week Low Following Analyst Downgrade

Annaly Capital Management, Inc. (NYSE:NLY) shares hit a new 52-week low during mid-day trading on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $21.00 to $20.15. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Annaly Capital Management traded as low as $17.08 and last traded at $17.19, with a volume of 2564086 shares traded. The stock had previously closed at $17.85.

NLY has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Annaly Capital Management in a research report on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on shares of Annaly Capital Management from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Barclays initiated 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 objective for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Annaly Capital Management has a consensus rating of “Moderate Buy” and a consensus price target of $21.29.

Institutional Trading of Annaly Capital Management

A number of hedge funds and other institutional investors have recently modified their holdings of NLY. Jupiter Wealth Management LLC increased its stake in shares of Annaly Capital Management by 3.4% in the 4th quarter. Jupiter Wealth Management LLC now owns 15,035 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 492 shares during the period. Proffitt & Goodson Inc. raised its stake in shares of Annaly Capital Management by 1.0% during the fourth quarter. Proffitt & Goodson Inc. now owns 53,040 shares of the real estate investment trust’s stock worth $971,000 after buying an additional 505 shares during the last quarter. Cannell & Spears LLC raised its stake in shares of Annaly Capital Management by 1.3% during the fourth quarter. Cannell & Spears LLC now owns 41,268 shares of the real estate investment trust’s stock worth $755,000 after buying an additional 518 shares during the last quarter. LVZ Inc. lifted its holdings in Annaly Capital Management by 2.7% in the fourth quarter. LVZ Inc. now owns 19,632 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 521 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Annaly Capital Management by 29.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,425 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Trading Down 8.3 %

The business’s fifty day simple moving average is $20.80 and its 200 day simple moving average is $19.93. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 4.89 and a beta of 1.31.

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%. As a group, research analysts anticipate that Annaly Capital Management, Inc. will post 2.81 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.70 dividend. The ex-dividend date is Monday, March 31st. This is a boost from Annaly Capital Management’s previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a dividend yield of 16.22%. Annaly Capital Management’s dividend payout ratio is 176.10%.

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.