In yesterday’s Wall Street session, Annaly Capital Management Inc. (NYSE:NLY) shares traded at $20.59, up 1.18% from the previous session.
As we calculate the median target price by taking the range between a high of $24.00 and a low of $20.50, we find $21.50. Given the previous closing price of $20.35, this indicates a potential upside of 5.65 percent. NLY stock price is now 3.58% away from the 50-day moving average and 1.22% away from the 200-day moving average. The market capitalization of the company currently stands at $10.10B.
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Brokers who have rated the stock have averaged $21.69 as their price target over the next twelve months.
With the price target enhanced from $20 to $21.50, Piper Sandler Upgraded its rating from Neutral to Overweight for Annaly Capital Management Inc. (NYSE: NLY).
Insiders disposed of 196,289 shares of company stock worth roughly $4.04 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NLY stock. A new stake in Annaly Capital Management Inc. shares was purchased by SWISS NATIONAL BANK during the first quarter worth $36,718,000. M&G INVESTMENT MANAGEMENT LTD invested $12,955,000 in shares of NLY during the first quarter. In the first quarter, INTRINSIC EDGE CAPITAL MANAGEMENT LLC acquired a new stake in Annaly Capital Management Inc. valued at approximately $6,177,000. BECK CAPITAL MANAGEMENT, LLC acquired a new stake in NLY for approximately $2,627,000. JANNEY MONTGOMERY SCOTT LLC purchased a new stake in NLY valued at around $2,523,000 in the second quarter. In total, there are 787 active investors with 55.40% ownership of the company’s stock.
On Thursday morning Annaly Capital Management Inc. (NYSE: NLY) stock kicked off with the opening price of $20.49. During the past 12 months, Annaly Capital Management Inc. has had a low of $15.11 and a high of $25.92. The fifty day moving average price for NLY is $19.90 and a two-hundred day moving average price translates $20.34 for the stock.
The latest earnings results from Annaly Capital Management Inc. (NYSE: NLY) was released for Jun, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.72, missing analysts’ expectations of $0.74 by -0.02. This compares to $2.20 EPS in the same period last year. The company reported revenue of $921.49 million for the quarter, compared to $645.62 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.73 percent. For the current quarter, analysts expect NLY to generate $976.2M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/31/2023. Investors who held shares on 06/30/2023 were paid a $0.65 dividend. On an annualized basis, this represents a $2.60 dividend and a 12.63% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, NLY is presently at 93.17%.
Annaly Capital Management Inc.(NLY) 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; residential mortgage loans; and agency or private label credit risk transfer securities. It has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders. The company was incorporated in 1996 and is based in New York, New York.
