Annaly Capital Management (NYSE:NLY) Shares Gap Down to $6.90

Annaly Capital Management, Inc. (NYSE:NLY – Get Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $6.90, but opened at $6.64. Annaly Capital Management shares last traded at $6.65, with a volume of 4,326,780 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NLY shares. Keefe, Bruyette & Woods upgraded shares of Annaly Capital Management from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $6.25 to $6.75 in a research report on Wednesday, June 8th. Credit Suisse Group dropped their price objective on shares of Annaly Capital Management to $6.50 in a research report on Friday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Annaly Capital Management from $7.50 to $6.50 and set an “overweight” rating for the company in a research report on Monday, April 25th. Barclays dropped their price objective on shares of Annaly Capital Management from $8.00 to $7.00 in a research report on Wednesday, April 27th. Finally, Piper Sandler dropped their price objective on shares of Annaly Capital Management from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.67.

Annaly Capital Management Trading Up 0.5 %

The business’s fifty day simple moving average is $6.30 and its 200 day simple moving average is $6.78. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 2.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY – Get Rating) last released its earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. Annaly Capital Management had a net margin of 178.91% and a return on equity of 16.08%. The firm had revenue of $475.14 million during the quarter, compared to analyst estimates of $399.39 million. During the same quarter in the previous year, the business earned $0.30 EPS. The business’s quarterly revenue was down 18.2% compared to the same quarter last year. As a group, research analysts anticipate that Annaly Capital Management, Inc. will post 1.1 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, June 30th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 13.25%. The ex-dividend date of this dividend was Wednesday, June 29th. Annaly Capital Management’s dividend payout ratio (DPR) is 34.92%.

Insider Activity

In other news, CEO David L. Finkelstein purchased 200,000 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was bought at an average price of $5.56 per share, with a total value of $1,112,000.00. Following the acquisition, the chief executive officer now directly owns 1,669,013 shares of the company’s stock, valued at $9,279,712.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NLY. Allspring Global Investments Holdings LLC boosted its stake in Annaly Capital Management by 11.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 45,049,917 shares of the real estate investment trust’s stock worth $266,243,000 after purchasing an additional 4,791,590 shares during the period. Qube Research & Technologies Ltd acquired a new position in Annaly Capital Management in the 4th quarter worth $33,728,000. Goldman Sachs Group Inc. boosted its stake in Annaly Capital Management by 127.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,428,284 shares of the real estate investment trust’s stock worth $58,089,000 after purchasing an additional 4,156,132 shares during the period. Vanguard Group Inc. boosted its stake in Annaly Capital Management by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 132,287,354 shares of the real estate investment trust’s stock worth $931,303,000 after purchasing an additional 3,668,441 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Annaly Capital Management by 32.9% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 10,514,616 shares of the real estate investment trust’s stock worth $74,023,000 after purchasing an additional 2,604,138 shares during the period. 41.79% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Company Profile

(Get Rating)

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments.