Annaly Capital Management Inc $NLY Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. boosted its stake in Annaly Capital Management by 99.9%, owning 533,158 shares worth $10.83 million after purchasing an additional 266,389 shares during the first quarter.
• Annaly Capital Management has received mixed ratings from analysts, with a range of target prices; the average rating is "Moderate Buy" with a target price of $20.72.
• The company declared a quarterly dividend of $0.70 per share, yielding approximately 13.4%, with a payout ratio currently at 277.23%.

Citigroup Inc. lifted its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 99.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 533,158 shares of the real estate investment trust's stock after buying an additional 266,389 shares during the period. Citigroup Inc. owned approximately 0.09% of Annaly Capital Management worth $10,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bayesian Capital Management LP purchased a new stake in shares of Annaly Capital Management in the fourth quarter worth about $730,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Annaly Capital Management in the fourth quarter worth about $4,448,000. The Manufacturers Life Insurance Company boosted its position in shares of Annaly Capital Management by 9.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 459,935 shares of the real estate investment trust's stock worth $8,417,000 after buying an additional 40,963 shares during the period. Diversified Trust Co purchased a new stake in shares of Annaly Capital Management in the first quarter worth about $466,000. Finally, Bessemer Group Inc. boosted its position in shares of Annaly Capital Management by 11.7% in the first quarter. Bessemer Group Inc. now owns 7,731 shares of the real estate investment trust's stock worth $157,000 after buying an additional 811 shares during the period. Hedge funds and other institutional investors own 51.56% of the company's stock.

Annaly Capital Management Stock Performance

NYSE:NLY traded down $0.3730 during trading hours on Thursday, reaching $20.5370. 5,542,686 shares of the stock were exchanged, compared to its average volume of 6,176,858. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $19.98 and a 200-day simple moving average of $19.95. Annaly Capital Management Inc has a 52 week low of $16.59 and a 52 week high of $22.11. The stock has a market capitalization of $13.19 billion, a P/E ratio of 20.33, a P/E/G ratio of 4.96 and a beta of 1.20.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $273.20 million for the quarter, compared to the consensus estimate of $237.00 million. As a group, sell-side analysts forecast that Annaly Capital Management Inc will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada decreased their target price on 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. Zacks Research downgraded Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Tuesday. UBS Group reissued a "neutral" rating and issued a $20.00 price target (up previously from $18.00) on shares of Annaly Capital Management in a report on Thursday, July 10th. Piper Sandler reduced their price target 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, Jones Trading reissued a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.72.

Annaly Capital Management 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.