Brandywine Global Investment Management LLC Sells 452,894 Shares of Annaly Capital Management Inc $NLY

Key Points

• Brandywine Global Investment Management cut its Annaly Capital Management stake by 14% in the fourth quarter, selling 452,894 shares and leaving it with 2,771,945 shares valued at about $61.98 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 51.56% of Annaly. Several firms increased their positions, including Goldman Sachs, which boosted its stake by 833.6% in the first quarter.
• Analysts are generally positive on NLY, with a consensus rating of Moderate Buy and a target price of $24.22. The stock recently traded around $21.23, and Annaly reported quarterly EPS of $0.76, beating estimates.

Brandywine Global Investment Management LLC lowered its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,771,945 shares of the real estate investment trust's stock after selling 452,894 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.41% of Annaly Capital Management worth $61,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NLY. 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 valued at $1,154,000 after purchasing an additional 29,978 shares during the period. Integrated Wealth Concepts LLC boosted its stake 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 period. Millennium Management LLC grew its position in shares of 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 stake in Annaly Capital Management by 20.8% during the 1st 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. lifted its holdings in Annaly Capital Management by 833.6% in 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 purchasing an additional 2,607,784 shares in the last quarter. 51.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NLY has been the subject of a number of research analyst reports. UBS Group reaffirmed a "neutral" rating and set a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. JonesTrading restated a "buy" rating and set a $25.00 target price on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Annaly Capital Management from $23.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Finally, Piper Sandler reduced their price target on shares of Annaly Capital Management from $25.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Annaly Capital Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

Annaly Capital Management Trading Up 0.1%

Annaly Capital Management stock opened at $21.23 on Monday. Annaly Capital Management Inc has a 12-month low of $18.64 and a 12-month high of $24.52. The firm has a 50-day moving average price of $21.91 and a 200-day moving average price of $22.48. The firm has a market capitalization of $15.56 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 6.48 and a beta of 1.17.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a net margin of 34.33% and a return on equity of 15.92%. The company had revenue of $341.56 million for the quarter, compared to the consensus estimate of $595.27 million. As a group, sell-side analysts predict that Annaly Capital Management Inc will post 2.98 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Tuesday, March 31st were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Annaly Capital Management's dividend payout ratio (DPR) is currently 94.59%.

Annaly Capital Management Company 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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