Annaly Capital Management (NYSE:NLY) Reaches New 1-Year High - Here's Why

Annaly Capital Management, Inc. (NYSE:NLY - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.88 and last traded at $21.88, with a volume of 3363314 shares changing hands. The stock had previously closed at $21.66.

Wall Street Analysts Forecast Growth

NLY has been the subject of a number of analyst reports. JMP Securities reissued a "market perform" rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $22.00 target price on shares of Annaly Capital Management in a research report on Monday, February 10th. JPMorgan Chase & Co. upped their target price on shares of Annaly Capital Management from $19.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays initiated coverage on shares of Annaly Capital Management in a research report on Monday, January 6th. They issued an "equal weight" rating and a $19.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.44.

Annaly Capital Management Stock Up 1.1 %

The company's 50-day moving average price is $19.89 and its 200-day moving average price is $19.86. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 4.89 and a beta of 1.52.

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Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its earnings results on Wednesday, January 29th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.05. Annaly Capital Management had a net margin of 20.70% and a return on equity of 14.95%. On average, sell-side analysts predict that Annaly Capital Management, Inc. will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.60 annualized dividend and a yield of 11.84%. Annaly Capital Management's dividend payout ratio (DPR) is 163.52%.

Institutional Trading of Annaly Capital Management

Several hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in Annaly Capital Management by 26.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 26,245 shares of the real estate investment trust's stock valued at $497,000 after purchasing an additional 5,570 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Annaly Capital Management in the fourth quarter valued at approximately $91,000. PVG Asset Management Corp purchased a new position in Annaly Capital Management in the fourth quarter valued at approximately $193,000. AlphaCore Capital LLC increased its stake in Annaly Capital Management by 29.4% in the fourth quarter. AlphaCore Capital LLC now owns 18,992 shares of the real estate investment trust's stock valued at $360,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Annaly Capital Management by 56.4% in the fourth quarter. Mackenzie Financial Corp now owns 127,358 shares of the real estate investment trust's stock valued at $2,331,000 after purchasing an additional 45,952 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company's stock.

Annaly Capital Management Company Profile

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.