Zacks Research upgraded shares of Annaly Capital Management (NYSE:NLY – Free Report) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.
NLY has been the topic of several other reports. JonesTrading reaffirmed a “buy” rating and set a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Finally, BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Annaly Capital Management presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.
Check Out Our Latest Analysis on NLY
Annaly Capital Management Trading Up 0.1%
Annaly Capital Management (NYSE:NLY – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. On average, equities research analysts forecast that Annaly Capital Management will post 3.09 EPS for the current year.
Annaly Capital Management Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s payout ratio is 75.19%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Michigan Retirement System increased its position in Annaly Capital Management by 1.3% during the second quarter. State of Michigan Retirement System now owns 191,931 shares of the real estate investment trust’s stock worth $4,292,000 after acquiring an additional 2,400 shares during the period. Creekside Partners raised its stake in Annaly Capital Management by 45.3% in the 2nd quarter. Creekside Partners now owns 65,070 shares of the real estate investment trust’s stock worth $1,455,000 after purchasing an additional 20,286 shares in the last quarter. Wealthstar Advisors LLC boosted its holdings in Annaly Capital Management by 17.0% in the 2nd quarter. Wealthstar Advisors LLC now owns 29,132 shares of the real estate investment trust’s stock valued at $651,000 after purchasing an additional 4,237 shares during the period. Left Brain Wealth Management LLC boosted its holdings in Annaly Capital Management by 19.7% in the 2nd quarter. Left Brain Wealth Management LLC now owns 82,416 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 13,538 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Annaly Capital Management by 12.1% during the 2nd quarter. Pictet Asset Management Holding SA now owns 419,836 shares of the real estate investment trust’s stock worth $9,388,000 after purchasing an additional 45,402 shares in the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.
Annaly Capital Management Company Profile
Annaly Capital Management, Inc is a publicly traded real estate investment trust (REIT) that specializes in generating income through investment in mortgage-related assets. The company’s core business activities include the acquisition, financing, and management of a diversified portfolio of agency and non-agency residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS), and other real estate debt instruments. Annaly seeks to profit from the spread between the interest earned on its mortgage investments and its cost of funds, as well as from capital gains realized through active portfolio management.
Founded in 1997 and headquartered in New York City, Annaly has grown to become one of the largest mortgage REITs in the United States.
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