Annaly Capital Management (NYSE:NLY) Hits New 12-Month Low – Time to Sell?

Shares of Annaly Capital Management Inc (NYSE:NLY) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $19.70 and last traded at $19.6230, with a volume of 120226 shares trading hands. The stock had previously closed at $20.32.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. BTIG Research set a $24.00 price target on Annaly Capital Management in a report on Wednesday, June 17th. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Piper Sandler raised their price target on Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Price Performance

The firm has a market capitalization of $14.68 billion, a P/E ratio of 4.90, a P/E/G ratio of 1.60 and a beta of 1.16. The firm has a 50-day moving average price of $22.45 and a two-hundred day moving average price of $22.21.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. Sell-side analysts predict that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 15.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Annaly Capital Management’s payout ratio is 75.19%.

Hedge Funds Weigh In On Annaly Capital Management

A number of institutional investors have recently modified their holdings of NLY. QRG Capital Management Inc. increased its stake in shares of Annaly Capital Management by 45.3% during the second quarter. QRG Capital Management Inc. now owns 561,069 shares of the real estate investment trust’s stock valued at $12,545,000 after buying an additional 174,810 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Annaly Capital Management by 16.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 90,271 shares of the real estate investment trust’s stock valued at $2,018,000 after purchasing an additional 12,947 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Annaly Capital Management by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,330,369 shares of the real estate investment trust’s stock valued at $29,747,000 after purchasing an additional 33,201 shares in the last quarter. Andra AP fonden raised its holdings in shares of Annaly Capital Management by 5,304.6% in the 2nd quarter. Andra AP fonden now owns 262,393 shares of the real estate investment trust’s stock valued at $5,867,000 after purchasing an additional 257,538 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Annaly Capital Management by 4.5% in the 2nd quarter. State Street Corp now owns 29,426,379 shares of the real estate investment trust’s stock worth $679,468,000 after purchasing an additional 1,272,235 shares during the period. 51.56% of the stock is owned by hedge funds and other institutional investors.

About Annaly Capital Management

Annaly Capital Management, Inc is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company’s primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.