Annaly Capital Management Inc $NLY Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Annaly Capital Management position by 4.2% in the first quarter, adding 103,739 shares to own 2.57 million shares valued at approximately $54.4 million. Institutional investors and hedge funds collectively hold 51.56% of NLY’s stock.
• Analysts maintain a generally positive outlook, with NLY receiving an average “Moderate Buy” rating and a consensus price target of $24.33. The stock opened at $23.14, near its 12-month high of $24.52.
• Annaly reported quarterly EPS of $0.79, beating estimates of $0.75, and raised its quarterly dividend to $0.75 per share, representing an annualized dividend of $3.00 and a 13.0% yield.

Bank of America Corp DE increased its position in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,570,040 shares of the real estate investment trust's stock after acquiring an additional 103,739 shares during the quarter. Bank of America Corp DE owned approximately 0.35% of Annaly Capital Management worth $54,356,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Annaly Capital Management by 111.8% in the 1st quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust's stock worth $1,154,000 after buying an additional 29,978 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Annaly Capital Management by 39.4% in the first quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust's stock worth $302,000 after acquiring an additional 4,205 shares during the last quarter. Millennium Management LLC boosted its position in shares of Annaly Capital Management by 17.4% in the first quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock worth $11,003,000 after acquiring an additional 80,481 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Annaly Capital Management by 20.8% in the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $362,000 after purchasing an additional 3,074 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Annaly Capital Management by 833.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust's stock valued at $59,318,000 after purchasing an additional 2,607,784 shares during the period. 51.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NLY. Wall Street Zen raised Annaly Capital Management from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. 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 boosted their price objective on shares of Annaly Capital Management from $24.50 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Annaly Capital Management in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.33.

Annaly Capital Management Trading Up 1.0%

NLY opened at $23.14 on Wednesday. The company has a fifty day simple moving average of $22.48 and a 200 day simple moving average of $22.40. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.98 and a beta of 1.16. Annaly Capital Management Inc has a twelve month low of $20.00 and a twelve month high of $24.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued 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 firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. On average, analysts forecast that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.75 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.00 annualized dividend and a yield of 13.0%. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. Annaly Capital Management's dividend payout ratio (DPR) is presently 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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