Annaly Capital Management Inc $NLY Shares Sold by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC cut its Annaly Capital Management stake by 48.8% in the third quarter, selling 68,113 shares and retaining 71,496 shares valued at approximately $1.35 million.
• Annaly reported quarterly earnings of $0.79 per share, exceeding analyst estimates of $0.75, while institutional investors collectively own 51.56% of the stock.
• The company declared a quarterly dividend of $0.75 per share, representing a $3.00 annualized payout and a 16.3% dividend yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $23.61.

Farther Finance Advisors LLC reduced its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 48.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,496 shares of the real estate investment trust's stock after selling 68,113 shares during the quarter. Farther Finance Advisors LLC's holdings in Annaly Capital Management were worth $1,351,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC lifted its stake in Annaly Capital Management by 585.6% in the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 1,136 shares during the last quarter. Markowski Investments bought a new stake in Annaly Capital Management during the 2nd quarter worth approximately $37,000. SHP Wealth Management bought a new stake in Annaly Capital Management during the 4th quarter worth approximately $43,000. Fourth Dimension Wealth LLC boosted its stake in Annaly Capital Management by 30.3% during the second quarter. Fourth Dimension Wealth LLC now owns 2,150 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 500 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in Annaly Capital Management during the first quarter valued at approximately $70,000. Institutional investors own 51.56% of the company's stock.

Annaly Capital Management Stock Performance

NYSE:NLY opened at $18.45 on Friday. The firm has a market cap of $13.91 billion, a P/E ratio of 4.63, a P/E/G ratio of 1.43 and a beta of 1.21. The firm has a 50-day simple moving average of $21.40 and a two-hundred day simple moving average of $21.94. Annaly Capital Management Inc has a fifty-two week low of $17.76 and a fifty-two week high of $24.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $639.80 million. On average, equities research analysts predict that Annaly Capital Management Inc will post 3.09 EPS for the current year.

Annaly Capital Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.00 annualized dividend and a yield of 16.3%. Annaly Capital Management's dividend payout ratio is currently 75.19%.

Analysts Set New Price Targets

NLY has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, July 24th. BTIG Research set a $21.00 target price on shares of Annaly Capital Management and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Wells Fargo & Company dropped their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Zacks Research lowered shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Piper Sandler cut their price objective on Annaly Capital Management from $25.00 to $21.50 and set an "overweight" rating on the stock in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Annaly Capital Management presently has a consensus rating of "Moderate Buy" and an average price target of $23.61.

About Annaly Capital Management

Annaly Capital Management, Inc is a real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company's primary business is focused on generating income from investments in agency mortgage-backed securities, which are guaranteed by a U.S. government-sponsored enterprise or government agency.

In addition to agency securities, Annaly invests in residential credit assets, including non-agency mortgage-backed securities and other residential loans.

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