Annaly Capital Management (NYSE:NLY) Shares Gap Down to $20.66

Annaly Capital Management, Inc. (NYSE:NLY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $20.66, but opened at $19.97. Annaly Capital Management shares last traded at $20.00, with a volume of 1,001,442 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Janney Montgomery Scott began coverage on shares of Annaly Capital Management in a report on Thursday, June 6th. They issued a “buy” rating and a $21.00 price objective for the company. JMP Securities reiterated a “market perform” rating on shares of Annaly Capital Management in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their price objective on Annaly Capital Management from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. 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 report on Friday, September 20th. Finally, Compass Point increased their price target on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

Annaly Capital Management Stock Performance

The company has a market capitalization of $9.83 billion, a P/E ratio of -20.25 and a beta of 1.52. The company has a 50-day simple moving average of $20.12 and a 200 day simple moving average of $19.72.

Annaly Capital Management (NYSE:NLY) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $318.00 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, sell-side analysts forecast that Annaly Capital Management, Inc. will post 2.67 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 13.23%. The ex-dividend date of this dividend is Monday, September 30th. Annaly Capital Management’s dividend payout ratio is currently -268.04%.

Insider Buying and Selling

In related news, CEO David L. Finkelstein sold 50,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the transaction, the chief executive officer now directly owns 612,469 shares in the company, valued at $12,280,003.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annaly Capital Management

Institutional investors have recently bought and sold shares of the business. Core Wealth Advisors Inc. lifted its holdings in shares of Annaly Capital Management by 222.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 1,450 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,000 shares during the period. Rise Advisors LLC bought a new position in Annaly Capital Management during the first quarter worth about $29,000. Quarry LP bought a new position in Annaly Capital Management during the second quarter worth about $36,000. Register Financial Advisors LLC acquired a new stake in Annaly Capital Management during the first quarter valued at approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Annaly Capital Management by 107.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,077 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,076 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

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.