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

Annaly Capital Management (NYSE:NLY) announced its quarterly earnings data on Wednesday. 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), Yahoo Finance reports. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $0.66 earnings per share.

Annaly Capital Management Stock Performance

Shares of NLY stock traded down $0.21 during mid-day trading on Friday, hitting $19.49. 5,448,718 shares of the stock were exchanged, compared to its average volume of 4,057,342. Annaly Capital Management has a 12-month low of $14.52 and a 12-month high of $21.11. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of -14.92 and a beta of 1.51. The stock’s fifty day simple moving average is $20.10 and its two-hundred day simple moving average is $19.74.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a dividend of $0.65 per share. 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 payout ratio is -195.49%.

Wall Street Analysts Forecast Growth

NLY has been the topic of several analyst reports. Compass Point increased their price objective on Annaly Capital Management from $22.00 to $23.50 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com lowered Annaly Capital Management from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Company raised Annaly Capital Management from an “equal weight” rating to an “overweight” rating and increased their target price for the company 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. Finally, JPMorgan Chase & Co. dropped their target price on Annaly Capital Management from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Insider Transactions at Annaly Capital Management

In other news, CEO David L. Finkelstein sold 50,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.05, for a total transaction of $1,002,500.00. Following the completion of the sale, the chief executive officer now owns 612,469 shares in the company, valued at approximately $12,280,003.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.