AXS Investments LLC Trims Stock Holdings in Annaly Capital Management Inc (NYSE:NLY)

Key Points

• AXS Investments LLC reduced its stake in Annaly Capital Management by 32.1%, owning 70,615 shares worth approximately $1.43 million after selling 33,379 shares in the first quarter.
• Annaly Capital Management's recent quarterly earnings report showed an EPS of $0.73, surpassing the consensus estimate of $0.72, with revenue of $273.20 million during the quarter.
• The company announced a quarterly dividend of $0.70 per share, resulting in a 13.4% dividend yield, although its payout ratio is notably high at 277.23%.

AXS Investments LLC cut its holdings in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,615 shares of the real estate investment trust's stock after selling 33,379 shares during the quarter. AXS Investments LLC's holdings in Annaly Capital Management were worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NLY. Inlight Wealth Management LLC purchased a new stake in Annaly Capital Management in the first quarter worth about $25,000. Financial Gravity Asset Management Inc. purchased a new stake in Annaly Capital Management in the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Annaly Capital Management in the first quarter worth about $36,000. MCF Advisors LLC lifted its stake in Annaly Capital Management by 1,087.1% in the first quarter. MCF Advisors LLC now owns 1,745 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 1,598 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in Annaly Capital Management in the fourth quarter worth about $39,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

Annaly Capital Management Trading Up 0.1%

Shares of NYSE NLY traded up $0.02 during trading on Friday, hitting $20.60. 4,314,410 shares of the company were exchanged, compared to its average volume of 6,744,990. Annaly Capital Management Inc has a 12-month low of $16.59 and a 12-month high of $22.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The company has a fifty day moving average price of $19.69 and a 200-day moving average price of $19.90. The firm has a market capitalization of $13.22 billion, a PE ratio of 20.39, a P/E/G ratio of 4.88 and a beta of 1.20.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%. The business had revenue of $273.20 million for the quarter, compared to analyst estimates of $237.00 million. As a group, equities research analysts expect that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 13.6%. The ex-dividend date was Monday, June 30th. Annaly Capital Management's payout ratio is currently 277.23%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Piper Sandler decreased their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on shares of Annaly Capital Management from $20.50 to $21.50 and gave the company an "outperform" rating in a research report on Friday, July 25th. Jones Trading reissued a "buy" rating and set a $21.00 price target on shares of Annaly Capital Management in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada decreased their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management currently has a consensus rating of "Moderate Buy" and an average target price of $20.72.

Annaly Capital Management Company Profile

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.