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Annaly Capital Management Inc (NYSE:NLY). shares soared to a 52-week high of $21.88, reflecting a robust performance in the face of a dynamic market environment. The $12.61 billion mortgage REIT’s technical indicators from InvestingPro suggest the stock is in overbought territory, with analysts setting price targets between $19 and $23. The company, known for its diversified capital management strategies, has seen its stock price surge, delivering a remarkable 31.58% return over the past year. Trading at a P/E ratio of 13.46 and maintaining a substantial 12% dividend yield, Annaly has demonstrated remarkable consistency with 28 consecutive years of dividend payments. This impressive ascent highlights investor confidence and the firm’s resilience, as it navigates through economic challenges and capitalizes on growth opportunities. The new price level marks a significant milestone for Annaly, as it continues to execute its strategic initiatives and deliver value to shareholders. Discover more insights about NLY and 1,400+ other stocks with comprehensive Pro Research Reports available on InvestingPro.
In other recent news, Annaly Capital Management reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.78, compared to the forecasted $0.66. Despite this positive earnings surprise, the company fell short on revenue, reporting $411.88 million against the anticipated $458.48 million. Annaly Capital also raised over $400 million in equity during the quarter, showcasing its ability to generate capital. The company’s economic return was recorded at 1.3% for the quarter and 11.9% for the full year, supported by a decrease in borrowing costs and an increase in earnings available for distribution. Analysts from JP Morgan and other firms noted Annaly’s strategic investment in mortgage servicing rights (MSR) as a significant component of its business strategy. The company remains optimistic about maintaining its current dividend and anticipates continued growth in the non-QM origination market. Additionally, Annaly Capital’s CEO, David Finkelstein, expressed confidence in the company’s position and outlook for 2025, despite potential challenges such as rising mortgage rates and regulatory changes.
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