Annaly Capital Management
Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets. The last earnings update was 67 days ago. More info.
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NLY Share Price and Events
7 Day Returns
1 Year Returns
NLY Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Annaly Capital Management (NLY) | 0.7% | -1.7% | -2.2% | -2.1% | -2.2% | -11.2% |
| US Mortgage REITs | 0.2% | 0.2% | 1.6% | 1.3% | 10.9% | -7.2% |
| US Market | -0.1% | 3.7% | 10.2% | 7.6% | 38.1% | 46.4% |
1 Year Return vs Industry and Market
- NLY underperformed the Mortgage REITs industry which returned 1.3% over the past year.
- NLY underperformed the Market in United States of America which returned 7.6% over the past year.
NLY Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Annaly Capital Management
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Annaly Capital Management.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity = $9.89 * 12.8% |
$1.27 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 4 analysts. | $9.89 |
| Discount Rate (Cost of Equity) | See below | 11.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Mortgage REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.29 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.287 (1 + (1- 21%) (619.09%)) |
1.465 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.46 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.465 * 5.96%) |
11.46% |
Discounted Cash Flow Calculation for NYSE:NLY using Excess Returns Model Model
The calculations below outline how an intrinsic value for Annaly Capital Management is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (12.8% – 11.46%) * $9.89) |
$0.14 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $0.14 / (11.46% - 2.73%) |
$1.56 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $9.89 + $1.56 |
$11.45 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $11.45 |
| Current discount | Discount to share price of
$10.08
= -1 x ($10.08 - $11.45) / $11.45 |
12% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Annaly Capital Management's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Annaly Capital Management's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Annaly Capital Management's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Annaly Capital Management's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $-0.06 |
| NYSE:NLY Share Price ** | NYSE (2019-04-23) in USD | $10.08 |
| United States of America Mortgage REITs Industry PE Ratio | Median Figure of 22 Publicly-Listed Mortgage REITs Companies | 11.43x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 18.03x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Annaly Capital Management.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:NLY Share Price ÷ EPS (both in USD) = 10.08 ÷ -0.06 |
-162.78x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Annaly Capital Management is loss making, we can't compare its value to the US Mortgage REITs industry average.
- Annaly Capital Management is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does
Annaly Capital Management's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -162.78x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
47.9%per year |
| United States of America Mortgage REITs Industry PEG Ratio | Median Figure of 19 Publicly-Listed Mortgage REITs Companies | 1.03x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.55x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Annaly Capital Management, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Annaly Capital Management's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $9.39 |
| NYSE:NLY Share Price * | NYSE (2019-04-23) in USD | $10.08 |
| United States of America Mortgage REITs Industry PB Ratio | Median Figure of 36 Publicly-Listed Mortgage REITs Companies | 0.99x |
| United States of America Market PB Ratio | Median Figure of 5,185 Publicly-Listed Companies | 1.92x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:NLY Share Price ÷ Book Value per Share (both in USD) = 10.08 ÷ 9.39 |
1.07x |
* Primary Listing of Annaly Capital Management.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Annaly Capital Management is overvalued based on assets compared to the US Mortgage REITs industry average.
Value checks
We assess Annaly Capital Management's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Mortgage REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Mortgage REITs industry average (and greater than 0)? (1 check) Annaly Capital Management has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
NLY Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Annaly Capital Management's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Annaly Capital Management's earnings growth is expected to exceed the United States of America market average.
- Annaly Capital Management's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:NLY Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 47.9% |
| NYSE:NLY Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 36.7% |
| United States of America Mortgage REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 26.6% |
| United States of America Mortgage REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 18.5% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.5% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | ||||
| 2021-12-31 | 2,445 | 1,979 | 1 | |
| 2020-12-31 | 1,908 | 1,637 | 3 | |
| 2019-12-31 | 1,835 | 1,543 | 3 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 443 | 2,622 | -75 |
| 2018-09-30 | 3,588 | 9,226 | 2,927 |
| 2018-06-30 | 3,465 | 9,110 | 2,910 |
| 2018-03-31 | 2,870 | 8,488 | 2,337 |
| 2017-12-31 | 1,976 | 1,632 | 1,460 |
| 2017-09-30 | 2,966 | 6,752 | 2,570 |
| 2017-06-30 | 3,294 | 5,103 | 2,942 |
| 2017-03-31 | 3,063 | 6,767 | 2,654 |
| 2016-12-31 | 1,723 | 1,581 | 1,351 |
| 2016-09-30 | 506 | 833 | 178 |
| 2016-06-30 | -827 | 2,808 | -1,175 |
| 2016-03-31 | 301 | 1,265 | 3 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from Annaly Capital Management Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 1.41 | 1.41 | 1.41 | 1.00 |
| 2021-12-31 | 1.31 | 1.36 | 1.26 | 2.00 |
| 2020-12-31 | 1.17 | 1.30 | 1.02 | 5.00 |
| 2019-12-31 | 1.12 | 1.23 | 1.02 | 5.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.06 |
| 2018-09-30 | 2.50 |
| 2018-06-30 | 2.56 |
| 2018-03-31 | 2.12 |
| 2017-12-31 | 1.37 |
| 2017-09-30 | 2.49 |
| 2017-06-30 | 2.89 |
| 2017-03-31 | 2.67 |
| 2016-12-31 | 1.39 |
| 2016-09-30 | 0.19 |
| 2016-06-30 | -1.26 |
| 2016-03-31 | 0.00 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Annaly Capital Management is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Annaly Capital Management's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Annaly Capital Management has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
NLY Past Performance
How has Annaly Capital Management performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Annaly Capital Management does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Annaly Capital Management's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Annaly Capital Management's 1-year growth to the US Mortgage REITs industry average as it is not currently profitable.
Earnings and Revenue History
All data from Annaly Capital Management Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 442.86 | -74.90 | 264.46 | |
| 2018-09-30 | 3,588.46 | 2,927.07 | 250.46 | |
| 2018-06-30 | 3,465.04 | 2,910.36 | 242.56 | |
| 2018-03-31 | 2,870.49 | 2,336.97 | 232.81 | |
| 2017-12-31 | 1,976.06 | 1,459.97 | 224.12 | |
| 2017-09-30 | 2,966.08 | 2,570.48 | 220.32 | |
| 2017-06-30 | 3,294.16 | 2,941.70 | 214.32 | |
| 2017-03-31 | 3,063.50 | 2,654.44 | 207.35 | |
| 2016-12-31 | 1,722.91 | 1,351.50 | 201.47 | |
| 2016-09-30 | 505.71 | 178.45 | 193.85 | |
| 2016-06-30 | -827.38 | -1,175.25 | 192.30 | |
| 2016-03-31 | 301.47 | 3.08 | 197.25 | |
| 2015-12-31 | 913.46 | 394.59 | 200.24 | |
| 2015-09-30 | -402.05 | -933.53 | 210.86 | |
| 2015-06-30 | 605.59 | 48.62 | 212.72 | |
| 2015-03-31 | 124.35 | -1,187.11 | 212.90 | |
| 2014-12-31 | 175.50 | -914.05 | 209.34 | |
| 2014-09-30 | 1,887.74 | 772.77 | 207.18 | |
| 2014-06-30 | 1,739.60 | 610.38 | 207.31 | |
| 2014-03-31 | 3,006.47 | 2,584.10 | 220.25 | |
| 2013-12-31 | 4,095.84 | 3,657.73 | 232.08 | |
| 2013-09-30 | 3,793.79 | 3,327.75 | 208.57 | |
| 2013-06-30 | 3,898.60 | 3,368.68 | 220.13 | |
| 2013-03-31 | 2,127.77 | 1,650.79 | 219.56 | |
| 2012-12-31 | 2,172.10 | 1,696.37 | 235.56 | |
| 2012-09-30 | 1,888.59 | 1,457.01 | 258.57 | |
| 2012-06-30 | 658.37 | 315.63 | 260.76 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Annaly Capital Management has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- It is difficult to establish if Annaly Capital Management has efficiently used its assets last year compared to the US Mortgage REITs industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Annaly Capital Management improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Annaly Capital Management's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Mortgage REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Annaly Capital Management has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
NLY Health
How is Annaly Capital Management's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Annaly Capital Management's finances.
The net worth of a company is the difference between its assets and liabilities.
- Annaly Capital Management's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Annaly Capital Management's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Annaly Capital Management Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 14,117.80 | 90,047.05 | 1,004.52 |
| 2018-09-30 | 14,955.86 | 87,872.50 | 1,797.40 |
| 2018-06-30 | 13,773.86 | 83,053.75 | 564.56 |
| 2018-03-31 | 13,942.94 | 85,641.11 | 530.37 |
| 2017-12-31 | 14,871.57 | 85,423.18 | 441.26 |
| 2017-09-30 | 14,155.22 | 77,495.83 | 457.05 |
| 2017-06-30 | 12,609.43 | 70,747.40 | 275.09 |
| 2017-03-31 | 12,647.35 | 71,021.68 | 478.59 |
| 2016-12-31 | 12,575.97 | 74,611.03 | 350.73 |
| 2016-09-30 | 13,261.80 | 72,635.23 | 311.51 |
| 2016-06-30 | 11,561.87 | 64,908.73 | 440.47 |
| 2016-03-31 | 11,658.01 | 65,039.23 | 363.89 |
| 2015-12-31 | 11,905.92 | 62,692.15 | 226.28 |
| 2015-09-30 | 12,284.33 | 61,816.79 | 265.32 |
| 2015-06-30 | 12,594.81 | 61,802.84 | 441.35 |
| 2015-03-31 | 13,124.59 | 64,965.73 | 340.56 |
| 2014-12-31 | 13,333.78 | 74,244.48 | 337.27 |
| 2014-09-30 | 13,110.95 | 71,622.12 | 384.53 |
| 2014-06-30 | 13,448.92 | 72,443.60 | 344.10 |
| 2014-03-31 | 12,564.71 | 67,457.59 | 2,263.07 |
| 2013-12-31 | 12,405.06 | 66,364.67 | 3,569.31 |
| 2013-09-30 | 12,945.72 | 74,998.15 | 5,039.30 |
| 2013-06-30 | 13,263.30 | 85,728.67 | 3,452.02 |
| 2013-03-31 | 15,306.37 | 105,741.89 | 9,484.50 |
| 2012-12-31 | 15,924.44 | 108,004.46 | 4,597.66 |
| 2012-09-30 | 17,090.66 | 106,208.32 | 5,480.49 |
| 2012-06-30 | 16,284.59 | 101,942.08 | 4,418.89 |
- Annaly Capital Management's level of debt (637.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (535% vs 637.8% today).
- Debt is not well covered by operating cash flow (2.9%, less than 20% of total debt).
- Unable to confirm if the interest payments on Annaly Capital Management's debt are well covered by earnings due to lack of past financial data.
Financial health checks
We assess Annaly Capital Management's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Annaly Capital Management has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
NLY Dividends
What is Annaly Capital Management's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Annaly Capital Management
shares you are expected to receive
$238
in your first year as a dividend.
Dividend Amount
- Annaly Capital Management's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
- Annaly Capital Management's dividend is above the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| United States of America Mortgage REITs Industry Average Dividend Yield | Market Cap Weighted Average of 36 Stocks | 10.7% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2008 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-12-31 | ||
| 2021-12-31 | 1.20 | 2.00 |
| 2020-12-31 | 1.20 | 5.00 |
| 2019-12-31 | 1.20 | 5.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-14 | 1.200 | 11.858 |
| 2018-12-13 | 1.200 | 11.821 |
| 2018-11-02 | 1.200 | 12.005 |
| 2018-10-31 | 1.200 | 12.225 |
| 2018-06-14 | 1.200 | 11.575 |
| 2018-03-15 | 1.200 | 11.527 |
| 2017-12-14 | 1.200 | 11.027 |
| 2017-11-03 | 1.200 | 10.282 |
| 2017-11-01 | 1.200 | 10.577 |
| 2017-06-15 | 1.200 | 9.832 |
| 2017-03-16 | 1.200 | 10.373 |
| 2016-12-15 | 1.200 | 11.478 |
| 2016-09-15 | 1.200 | 11.711 |
| 2016-06-16 | 1.200 | 11.057 |
| 2016-03-14 | 1.200 | 11.378 |
| 2015-12-17 | 1.200 | 12.450 |
| 2015-09-17 | 1.200 | 12.200 |
| 2015-06-18 | 1.200 | 12.120 |
| 2015-03-17 | 1.200 | 11.706 |
| 2014-12-18 | 1.200 | 11.218 |
| 2014-09-18 | 1.200 | 10.622 |
| 2014-06-19 | 1.200 | 10.454 |
| 2014-03-20 | 1.200 | 10.464 |
| 2013-12-19 | 1.200 | 11.283 |
| 2013-09-19 | 1.400 | 12.709 |
| 2013-06-19 | 1.600 | 13.505 |
| 2013-03-20 | 1.800 | 12.084 |
| 2013-02-26 | 2.050 | 13.305 |
| 2013-02-06 | 2.050 | 13.672 |
| 2012-09-19 | 2.000 | 13.169 |
| 2012-06-19 | 2.200 | 12.850 |
| 2012-03-20 | 2.200 | 13.503 |
| 2012-02-28 | 2.440 | 14.923 |
| 2012-02-07 | 2.440 | 14.679 |
| 2011-12-19 | 2.280 | 13.810 |
| 2011-09-20 | 2.400 | 14.703 |
| 2011-06-20 | 2.600 | 14.530 |
| 2011-03-21 | 2.480 | 13.886 |
| 2011-02-25 | 2.650 | 14.853 |
| 2011-02-03 | 2.650 | 14.943 |
| 2010-12-15 | 2.560 | 14.351 |
| 2010-09-22 | 2.720 | 15.145 |
| 2010-06-17 | 2.720 | 15.446 |
| 2010-03-22 | 2.600 | 15.377 |
| 2010-02-24 | 2.540 | 13.852 |
| 2010-02-02 | 2.540 | 14.400 |
| 2009-12-17 | 3.000 | 17.040 |
| 2009-09-21 | 2.760 | 15.402 |
| 2009-06-18 | 2.400 | 14.494 |
| 2009-04-24 | 2.000 | 13.865 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have fallen over the past 10 years.
Income/ dividend checks
We assess Annaly Capital Management's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Annaly Capital Management afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Annaly Capital Management has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
NLY Management
CEO
| COMPENSATION | $0 |
| AGE | 50 |
| TENURE AS CEO | 3.6 years |
CEO Bio
Mr. Kevin G. Keyes has been the Chief Executive Officer of Annaly Capital Management, Inc. since September 2015 and as its Chairman since January 1, 2018 and President since October 2012. Previously, Mr. Keyes served as Chief Strategy Officer and Head of Capital Markets of Annaly from September 2010 until October 2012. Prior to joining Annaly as a Managing Director in 2009, Mr. Keyes worked for 20 years in senior Investment Banking and Capital Markets roles. From 2005-2009, Mr. Keyes served in senior management and business origination roles in the Global Capital Markets and Banking Group at Bank of America Merrill Lynch. Prior to that, he worked at Credit Suisse First Boston from 1997 until 2005 in various Capital Markets Origination roles and Morgan Stanley Dean Witter from 1990 until 1997 in the Mergers and Acquisitions Group and Real Estate Investment Banking Group. Mr. Keyes is a member of the University of Notre Dame’s Campaign Cabinet, the President’s Circle, the Student-Athlete Advisory Council and the Jesse Harper Council, as part of the Rockne Athletics Fund. He is a member of the Wall Street Journal’s CEO Council and serves on the Board of Directors of the Rock and Roll Forever Foundation. Mr. Keyes holds a B.A. in Economics and a B.S. in Business Administration (ALPA Program) from the University of Notre Dame.
CEO Compensation
- Insufficient data for Kevin to compare compensation growth.
- Insufficient data for Kevin to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Annaly Capital Management management team in years:
- The tenure for the Annaly Capital Management management team is about average.
Management Team
Wellington Denahan-Norris
Co-Founder & Director
$251K
54
23.3 yrs
Wellington Denahan-Norris
Co-Founder & Director
54
23.3 yrs
Kevin Keyes
Chairman
50
3.6 yrs
Glenn Votek
Chief Financial Officer
60
5.7 yrs
David Finkelstein
Chief Investment Officer
45
2.4 yrs
Helen Crossen
Chief Administrative Officer
3.3 yrs
Jessica Scala
Head of Investor Relations
Anthony Green
Chief Corporate Officer
43
2.1 yrs
Miki Kamijyo
Chief Compliance Officer
0.2 yrs
Brooke Carillo
Head of Corporate Development & Strategy
1.7 yrs
Board of Directors Tenure
Average tenure and age of the Annaly Capital Management board of directors in years:
- The tenure for the Annaly Capital Management board of directors is about average.
Board of Directors
Wellington Denahan-Norris
Co-Founder & Director
$251K
54
23.3 yrs
Wellington Denahan-Norris
Co-Founder & Director
54
6.4 yrs
Kevin Keyes
Chairman
50
1.3 yrs
Donnell Segalas
Director
$277K
60
22.3 yrs
Kevin Brady
Director
$279K
62
22.3 yrs
Jonathan Green
Lead Independent Director
$317K
71
4.3 yrs
John Schaefer
Director
$269K
66
5.9 yrs
Fran Bovich
Director
$261K
66
4.9 yrs
Edgar Nordberg
Director
$267K
79
14.9 yrs
Mike Haylon
Director
$259K
59
10.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Annaly Capital Management's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Annaly Capital Management has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
NLY News
Simply Wall St News
Did You Manage To Avoid Annaly Capital Management's 10% Share Price Drop?
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … Over five years Annaly Capital Management's earnings per share dropped significantly, falling to a loss, with the share price also lower. … Since the company has fallen to a loss making position, it's hard to compare the change in EPS with the share price change.
Simply Wall St - – Full articleLooking At Annaly Capital Management Inc (NYSE:NLY) From All Angles
Attractive stocks have exceptional fundamentals. … In the case of Annaly Capital Management Inc (NYSE:NLY), there's.
Simply Wall St - – Full articleShould Annaly Capital Management Inc (NYSE:NLY) Be Part Of Your Dividend Portfolio?
A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … Annaly Capital Management Inc (NYSE:NLY) has returned to shareholders over the past 10 years, an average dividend yield of 13.00% annually. … Let's take a look at Annaly Capital Management in more detail.
Simply Wall St - – Full articleWhy Annaly Capital Management Inc (NYSE:NLY) Could Be A Buy
Let’s take a look at Annaly Capital Management’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … Annaly Capital Management’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. … Though in the case of Annaly Capital Management, it is expected to deliver a highly negative earnings growth in the next few years, which doesn’t help build up its investment thesis.
Simply Wall St - – Full articleWhat Should Investors Know About Annaly Capital Management Inc's (NYSE:NLY) Long Term Outlook?
Annaly Capital Management Inc's (NYSE:NLY) announced its latest earnings update in December 2017, which showed that the company benefited from a small tailwind, leading to a single-digit earnings growth of 8.03%. … Below is my commentary, albeit very simple and high-level, on how market analysts predict Annaly Capital Management's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … This means, we can anticipate Annaly Capital Management will grow its earnings by 1.92% every year for the next couple of years.
Simply Wall St - – Full articleDid Annaly Capital Management Inc (NYSE:NLY) Create Value For Shareholders?
View our latest analysis for Annaly Capital Management Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) weighs Annaly Capital Management’s profit against the level of its shareholders’ equity. … Annaly Capital Management’s cost of equity is 8.49%. … Annaly Capital Management’s ROE is impressive relative to the industry average and also covers its cost of equity.
Simply Wall St - – Full articleAnnaly Capital Management Inc’s (NLY) Insiders Recently Ramped Up Their Holdings - Should You?
I will be analysing whether these buying activities are supported by favourable future outlook and recent share price volatility. … View our latest analysis for Annaly Capital Management Who Are The Insiders? … In the past three months, Annaly Capital Management’s share price reached a high of $12.54 and a low of $11.04.
Simply Wall St - – Full articleNLY Company Info
Description
Annaly Capital Management, Inc., a diversified capital manager, invests in and finances residential and commercial assets. The company invests in various types of agency mortgage-backed securities, non-agency residential mortgage assets, and residential mortgage loans; and originates and invests in commercial mortgage loans, securities, and other commercial real estate investments. It also provides financing to private equity-backed middle market businesses; and operates as a broker-dealer. The company has elected to be taxed as a real estate investment trust (REIT). As a REIT, it is not subject to federal income tax to the extent that it distributes its taxable income to its shareholders. Annaly Capital Management, Inc. was founded in 1996 and is based in New York, New York.
Details
| Name: | Annaly Capital Management, Inc. |
| NLY | |
| Exchange: | NYSE |
| Founded: | 1996 |
| $14,545,154,524 | |
| 1,442,971,679 | |
| Website: | http://www.annaly.com |
| Address: |
Annaly Capital Management, Inc. 1211 Avenue of the Americas, New York, New York, 10036, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | NLY | Common Stock | New York Stock Exchange | US | USD | 08. Oct 1997 | |
| DB | AAY | Common Stock | Deutsche Boerse AG | DE | EUR | 08. Oct 1997 | |
| NYSE | NLY.PRD | PFD SER D % | New York Stock Exchange | US | USD | 10. Sep 2012 | |
| NYSE | NLY.PRF | 6.95% PFD SER F | New York Stock Exchange | US | USD | 26. Jul 2017 | |
| NYSE | NLY.PRH | 8.125 PFD CM H | New York Stock Exchange | US | USD | 07. Sep 2018 | |
| NYSE | NLY.PRC | PFD STK C 7.625% | New York Stock Exchange | US | USD | 11. May 2012 | |
| NYSE | NLY.PRG | PFD SER G | New York Stock Exchange | US | USD | 09. Jan 2018 |
Number of employees
Current staff
Industry
| Mortgage REITs | |
| Diversified Financials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/23 23:32 |
| End of day share price update: | 2019/04/23 00:00 |
| Last estimates confirmation: | 2019/04/23 |
| Last earnings filing: | 2019/02/15 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
