Annaly Capital Management (NYSE:NLY) Hits New 12-Month High – What’s Next?

Annaly Capital Management Inc (NYSE:NLY)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $24.52 and last traded at $24.4060, with a volume of 1045787 shares. The stock had previously closed at $24.36.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NLY. Barclays set a $23.00 target price on shares of Annaly Capital Management and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. increased their price objective on Annaly Capital Management from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, January 21st. BTIG Research upgraded Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up from $23.50) on shares of Annaly Capital Management in a report on Thursday, January 15th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and an average target price of $22.81.

Annaly Capital Management Stock Performance

The stock has a market cap of $16.64 billion, a P/E ratio of 11.27, a P/E/G ratio of 7.36 and a beta of 1.25. The stock’s fifty day simple moving average is $22.93 and its 200-day simple moving average is $21.68.

Annaly Capital Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 11.5%. The ex-dividend date is Wednesday, December 31st. Annaly Capital Management’s payout ratio is currently 129.63%.

Institutional Investors Weigh In On Annaly Capital Management

A number of hedge funds have recently made changes to their positions in NLY. M&T Bank Corp grew its position in Annaly Capital Management by 97.3% during the 4th quarter. M&T Bank Corp now owns 33,016 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 16,281 shares during the last quarter. Clarity Financial LLC increased its holdings in Annaly Capital Management by 3.3% in the fourth quarter. Clarity Financial LLC now owns 885,169 shares of the real estate investment trust’s stock worth $19,792,000 after purchasing an additional 27,866 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Annaly Capital Management by 16.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 362,388 shares of the real estate investment trust’s stock valued at $8,242,000 after acquiring an additional 50,691 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Annaly Capital Management by 16.6% during the fourth quarter. Evergreen Capital Management LLC now owns 16,796 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 2,392 shares during the period. Finally, Busey Bank bought a new position in Annaly Capital Management in the fourth quarter worth approximately $244,000. 51.56% of the stock is currently owned by institutional investors and hedge funds.

About Annaly Capital Management

Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.

Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.