Annaly Capital Management, Inc. (NYSE:NLY) Declares Quarterly Dividend of $0.65

Annaly Capital Management, Inc. (NYSE:NLY) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.65 per share by the real estate investment trust on Friday, January 31st. This represents a $2.60 annualized dividend and a dividend yield of 13.27%.

Annaly Capital Management has decreased its dividend by an average of 2.0% annually over the last three years. Annaly Capital Management has a dividend payout ratio of 93.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Annaly Capital Management to earn $2.68 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 97.0%.

Annaly Capital Management Stock Performance

Shares of NYSE NLY traded down $0.03 during midday trading on Thursday, hitting $19.60. 3,449,557 shares of the company’s stock traded hands, compared to its average volume of 4,287,401. Annaly Capital Management has a 1 year low of $17.67 and a 1 year high of $21.11. The stock has a market capitalization of $10.99 billion, a price-to-earnings ratio of -280.50 and a beta of 1.51. The firm has a fifty day moving average of $19.68 and a 200 day moving average of $19.84.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Annaly Capital Management had a net margin of 2.59% and a return on equity of 14.75%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $212.00 million. During the same period in the previous year, the company earned $0.66 EPS. On average, equities analysts anticipate that Annaly Capital Management will post 2.65 earnings per share for the current year.

Wall Street Analyst Weigh In

NLY has been the subject of several analyst reports. Wells Fargo & Company raised shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $23.00 in a report on Friday, September 20th. JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Argus raised shares of Annaly Capital Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

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.