Annaly Capital Management, Inc. (NYSE:NLY – Get Rating) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 51,180,000 shares, a decline of 22.0% from the June 30th total of 65,580,000 shares. Based on an average trading volume of 34,140,000 shares, the days-to-cover ratio is currently 1.5 days.
Analysts Set New Price Targets
A number of analysts recently commented on NLY shares. Piper Sandler lowered their target price on shares of Annaly Capital Management from $6.50 to $6.00 and set a "neutral" rating for the company in a research note on Tuesday, June 28th. Barclays dropped their price objective on shares of Annaly Capital Management from $8.00 to $7.00 in a report on Wednesday, April 27th. JPMorgan Chase & Co. cut their target price on Annaly Capital Management from $7.50 to $6.50 and set an "overweight" rating on the stock in a research report on Monday, April 25th. Credit Suisse Group dropped their price target on Annaly Capital Management to $6.50 in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods raised Annaly Capital Management from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $6.25 to $6.75 in a report on Wednesday, June 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.67.
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Insider Buying and Selling
In other news, CEO David L. Finkelstein bought 200,000 shares of the stock in a transaction on Friday, June 17th. The stock was bought at an average cost of $5.56 per share, for a total transaction of $1,112,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,669,013 shares in the company, valued at $9,279,712.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Stonnington Group LLC increased its stake in shares of Annaly Capital Management by 40.0% in the 1st quarter. Stonnington Group LLC now owns 14,000 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 4,000 shares in the last quarter. DNB Asset Management AS increased its position in shares of Annaly Capital Management by 6.1% in the first quarter. DNB Asset Management AS now owns 297,955 shares of the real estate investment trust's stock valued at $2,098,000 after buying an additional 17,164 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of Annaly Capital Management in the first quarter valued at approximately $181,000. ProShare Advisors LLC raised its stake in shares of Annaly Capital Management by 10.3% during the 4th quarter. ProShare Advisors LLC now owns 240,161 shares of the real estate investment trust's stock worth $1,878,000 after buying an additional 22,418 shares during the period. Finally, Wedbush Securities Inc. lifted its position in shares of Annaly Capital Management by 3.2% during the 1st quarter. Wedbush Securities Inc. now owns 275,223 shares of the real estate investment trust's stock valued at $1,938,000 after buying an additional 8,585 shares in the last quarter. Institutional investors and hedge funds own 41.79% of the company's stock.
Annaly Capital Management Trading Down 4.2 %
Shares of NYSE NLY traded down $0.29 during trading on Tuesday, reaching $6.61. 126,109,102 shares of the company traded hands, compared to its average volume of 22,930,166. The stock has a market cap of $9.66 billion, a P/E ratio of 2.74, a PEG ratio of 1.34 and a beta of 1.16. The firm's fifty day simple moving average is $6.29 and its 200 day simple moving average is $6.78. Annaly Capital Management has a 12-month low of $5.45 and a 12-month high of $8.94.
Annaly Capital Management (NYSE:NLY – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. Annaly Capital Management had a return on equity of 16.08% and a net margin of 178.91%. The company had revenue of $475.14 million during the quarter, compared to analysts' expectations of $399.39 million. During the same period last year, the business earned $0.30 earnings per share. Annaly Capital Management's quarterly revenue was down 18.2% on a year-over-year basis. As a group, research analysts expect that Annaly Capital Management will post 1.02 EPS for the current year.
Annaly Capital Management Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.88 annualized dividend and a yield of 13.31%. Annaly Capital Management's dividend payout ratio is presently 34.92%.
Annaly Capital Management Company Profile
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Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments.
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