Annaly Capital Management (NYSE:NLY) Posts Earnings Results, Misses Estimates By $0.01 EPS

Annaly Capital Management (NYSE:NLY) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01), Yahoo Finance reports. The company had revenue of $1.23 billion during 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 business earned $0.66 EPS.

Annaly Capital Management Stock Down 1.1 %

Shares of NYSE:NLY traded down $0.21 during trading on Friday, reaching $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 fifty-two week low of $14.52 and a fifty-two week high of $21.11. The business has a fifty day moving average price of $20.09 and a 200-day moving average price of $19.74. The stock has a market cap of $10.49 billion, a P/E ratio of -14.64 and a beta of 1.51.

Annaly Capital Management Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Compass Point lifted their price target on shares of Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company upgraded shares of Annaly Capital Management from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $23.00 in a research report on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Annaly Capital Management in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.38.

Insiders Place Their Bets

In other news, CEO David L. Finkelstein sold 50,000 shares of Annaly Capital Management stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.05, for a total value of $1,002,500.00. Following the completion of the sale, the chief executive officer now owns 612,469 shares of the company’s stock, valued at $12,280,003.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

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.