Annaly Capital Management Inc (NYSE:NLY) Announces Dividend Increase – $0.75 Per Share

Annaly Capital Management Inc (NYSE:NLY) announced a quarterly dividend on Wednesday, June 10th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.75 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a 7.1% increase from Annaly Capital Management’s previous quarterly dividend of $0.70.

Annaly Capital Management has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. Annaly Capital Management has a dividend payout ratio of 96.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Annaly Capital Management to earn $2.96 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 94.6%.

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $21.48 on Thursday. The firm has a market capitalization of $15.74 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 6.63 and a beta of 1.17. The stock has a 50 day moving average price of $21.94 and a 200 day moving average price of $22.47. Annaly Capital Management has a 52-week low of $18.64 and a 52-week high of $24.52.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The company had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. Analysts forecast that Annaly Capital Management will post 2.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NLY shares. JPMorgan Chase & Co. boosted their price target on shares of Annaly Capital Management from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Wall Street Zen upgraded Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. JonesTrading reaffirmed a “buy” rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. UBS Group reaffirmed a “neutral” rating and set a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Finally, Piper Sandler dropped their target price on Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Annaly Capital Management Company Profile

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.