Annaly Capital Management (NYSE:NLY) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Annaly Capital Management (NYSE:NLY) issued its earnings results on Wednesday. The real estate investment trust reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01), Yahoo Finance reports. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $212.00 million. Annaly Capital Management had a negative net margin of 12.02% and a positive return on equity of 15.24%. During the same quarter in the prior year, the company earned $0.66 earnings per share.

Annaly Capital Management Stock Down 1.1 %

Shares of NYSE:NLY traded down $0.21 during trading on Friday, hitting $19.49. The stock had a trading volume of 5,521,665 shares, compared to its average volume of 4,057,654. Annaly Capital Management has a 12 month low of $14.52 and a 12 month high of $21.11. The company has a market capitalization of $10.49 billion, a PE ratio of -14.64 and a beta of 1.51. The firm’s fifty day moving average is $20.09 and its 200 day moving average is $19.74.

Annaly Capital Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 13.34%. The ex-dividend date is Monday, September 30th. Annaly Capital Management’s dividend payout ratio is currently -195.49%.

Analysts Set New Price Targets

NLY has been the subject of several analyst reports. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Compass Point increased their target price on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wells Fargo & Company upgraded Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

Insider Transactions at Annaly Capital Management

In related news, CEO David L. Finkelstein sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 612,469 shares of the company’s stock, valued at $12,280,003.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.21% 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.