Retirement Systems of Alabama lowered its stake in shares of Annaly Capital Management Inc (NYSE:NLY – Free Report) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 979,848 shares of the real estate investment trust’s stock after selling 122,806 shares during the period. Retirement Systems of Alabama’s holdings in Annaly Capital Management were worth $21,909,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NLY. Koshinski Asset Management Inc. increased its holdings in shares of Annaly Capital Management by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 24,513 shares of the real estate investment trust’s stock worth $548,000 after buying an additional 463 shares during the last quarter. Quadcap Wealth Management LLC raised its position in shares of Annaly Capital Management by 2.3% in the 1st quarter. Quadcap Wealth Management LLC now owns 21,889 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 495 shares during the period. Fourth Dimension Wealth LLC boosted its holdings in Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 500 shares during the last quarter. GWN Securities Inc. boosted its holdings in Annaly Capital Management by 5.0% in the fourth quarter. GWN Securities Inc. now owns 10,811 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 514 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Annaly Capital Management by 1.4% during the third quarter. Quadrant Capital Group LLC now owns 39,282 shares of the real estate investment trust’s stock valued at $794,000 after acquiring an additional 524 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.
Wall Street Analyst Weigh In
NLY has been the topic of a number of research reports. UBS Group restated a “neutral” rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. JonesTrading reiterated a “buy” rating and set a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, April 22nd. Zacks Research raised shares of Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Piper Sandler raised their price target on shares of Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Finally, BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Annaly Capital Management currently has an average rating of “Moderate Buy” and an average price target of $24.33.
Annaly Capital Management Trading Up 1.1%
Shares of NYSE NLY opened at $23.38 on Friday. Annaly Capital Management Inc has a 12-month low of $20.00 and a 12-month high of $24.52. The company has a market cap of $17.62 billion, a P/E ratio of 5.86, a P/E/G ratio of 6.04 and a beta of 1.16. The stock has a fifty day moving average price of $22.57 and a 200 day moving average price of $22.39.
Annaly Capital Management (NYSE:NLY – Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. On average, sell-side analysts forecast that Annaly Capital Management Inc will post 3.09 EPS for the current fiscal year.
Annaly Capital Management Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 12.8%. The ex-dividend date was Tuesday, June 30th. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. Annaly Capital Management’s dividend payout ratio (DPR) is 75.19%.
Annaly Capital Management 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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