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

Annaly Capital Management, Inc. (NYSE:NLY) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid 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 13.10%. The ex-dividend date of this dividend is Tuesday, December 31st.

Annaly Capital Management has decreased its dividend by an average of 2.0% annually over the last three years. Annaly Capital Management has a 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 fall. Equities 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 Up 1.3 %

Shares of NLY opened at $19.85 on Friday. The firm’s 50 day moving average is $19.65 and its 200-day moving average is $19.84. Annaly Capital Management has a 12-month low of $17.67 and a 12-month high of $21.11.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Argus upgraded 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. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $23.00 in a report on Friday, September 20th. JPMorgan Chase & Co. decreased 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. Finally, JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.63.

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.