Merit Financial Group LLC bought a new stake in shares of Annaly Capital Management, Inc. (NYSE:NLY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,030 shares of the real estate investment trust's stock, valued at approximately $265,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in Annaly Capital Management in the 4th quarter valued at approximately $671,000. Stratos Wealth Partners LTD. raised its holdings in Annaly Capital Management by 21.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,154 shares of the real estate investment trust's stock valued at $259,000 after acquiring an additional 2,469 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Annaly Capital Management by 9.8% in the 4th quarter. State of Alaska Department of Revenue now owns 63,909 shares of the real estate investment trust's stock valued at $1,169,000 after acquiring an additional 5,700 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Annaly Capital Management in the 4th quarter valued at approximately $294,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Annaly Capital Management by 10.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,071,513 shares of the real estate investment trust's stock valued at $19,609,000 after acquiring an additional 99,649 shares in the last quarter. Institutional investors own 51.56% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have commented on NLY. Jones Trading reaffirmed a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a report on Friday, May 2nd. Royal Bank of Canada cut their price target on Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. dropped their target price on Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler dropped their target price on Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods increased their target price on Annaly Capital Management from $20.15 to $20.50 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.
View Our Latest Research Report on Annaly Capital Management
Annaly Capital Management Stock Up 0.2%
NLY stock traded up $0.04 during midday trading on Monday, reaching $19.22. 7,481,102 shares of the company's stock traded hands, compared to its average volume of 6,637,414. The company has a 50-day simple moving average of $18.94 and a two-hundred day simple moving average of $19.70. Annaly Capital Management, Inc. has a 1-year low of $16.60 and a 1-year high of $22.11. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 4.89 and a beta of 1.23.
Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The firm had revenue of $186.64 million during the quarter, compared to analysts' expectations of $418.04 million. Equities research analysts forecast that Annaly Capital Management, Inc. will post 2.81 EPS for the current year.
Annaly Capital Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 14.57%. Annaly Capital Management's dividend payout ratio is 314.61%.
Annaly Capital Management Company Profile
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Free Report)
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.
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