Annaly Capital Management Inc $NLY Shares Purchased by BlackRock Inc.

Key Points

• BlackRock increased its Annaly Capital Management stake by 6.7% in the second quarter, adding 5.49 million shares to own approximately 11.57% of the mortgage REIT, valued at $1.95 billion.
• Annaly reported quarterly earnings of $0.79 per share, exceeding estimates of $0.75, while revenue reached $1.82 billion. The company also raised its quarterly dividend to $0.75 per share, implying a 12.6% annualized yield.
• Analysts maintain a generally positive outlook, with Annaly carrying a “Moderate Buy” consensus rating and an average price target of $24.33, compared with a recent share price of $23.73.

BlackRock Inc. raised its position in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,219,586 shares of the real estate investment trust's stock after acquiring an additional 5,485,296 shares during the quarter. BlackRock Inc. owned approximately 11.57% of Annaly Capital Management worth $1,950,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Annaly Capital Management by 111.8% during 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 acquiring an additional 29,978 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in 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 valued at $302,000 after purchasing an additional 4,205 shares during the last quarter. Millennium Management LLC raised its holdings in Annaly Capital Management by 17.4% during the first quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock worth $11,003,000 after purchasing an additional 80,481 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Annaly Capital Management by 20.8% during the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $362,000 after purchasing an additional 3,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Annaly Capital Management by 833.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust's stock worth $59,318,000 after buying an additional 2,607,784 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company's stock.

Annaly Capital Management Stock Performance

Shares of NYSE:NLY opened at $23.73 on Thursday. Annaly Capital Management Inc has a one year low of $20.00 and a one year high of $24.52. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of 5.95, a PEG ratio of 6.11 and a beta of 1.16. The company has a 50-day simple moving average of $22.73 and a 200-day simple moving average of $22.37.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $639.80 million. As a group, research analysts forecast that Annaly Capital Management Inc will post 3.09 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently declared 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 is an increase from Annaly Capital Management's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 12.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Annaly Capital Management's dividend payout ratio is currently 75.19%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler raised their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the stock an "overweight" rating in a report 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 report on Wednesday, June 3rd. BTIG Research set a $24.00 price target on Annaly Capital Management in a research report on Wednesday, June 17th. Wells Fargo & Company reduced their price objective on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Finally, UBS Group reissued 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Annaly Capital Management presently has an average rating of "Moderate Buy" and an average target price of $24.33.

About Annaly Capital Management

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.

Want to see what other hedge funds are holding NLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Annaly Capital Management Inc (NYSE:NLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source