Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Annaly Capital Management Inc $NLY

Key Points

• Connor Clark & Lunn Investment Management acquired 267,015 shares of Annaly Capital Management, valued at approximately $5.97 million. Institutional investors own 51.56% of NLY’s outstanding shares.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $24.33, compared with the stock’s reported opening price of $23.05.
• Annaly reported quarterly EPS of $0.79, beating estimates of $0.75, and raised its quarterly dividend to $0.75, equivalent to a $3.00 annualized payout and a 13.0% yield.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 267,015 shares of the real estate investment trust's stock, valued at approximately $5,970,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in Annaly Capital Management by 111.8% during the first 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 last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Annaly Capital Management by 39.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust's stock worth $302,000 after buying an additional 4,205 shares during the last quarter. Millennium Management LLC raised its position in shares of Annaly Capital Management by 17.4% during the 1st quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock valued at $11,003,000 after buying an additional 80,481 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of 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 buying an additional 3,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 valued at $59,318,000 after acquiring an additional 2,607,784 shares during the last quarter. 51.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on NLY shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Zacks Research upgraded Annaly Capital Management from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Piper Sandler boosted their target price on Annaly Capital Management from $24.50 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their price target on Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Annaly Capital Management has a consensus rating of "Moderate Buy" and an average target price of $24.33.

Annaly Capital Management Stock Performance

Shares of NYSE NLY opened at $23.05 on Friday. Annaly Capital Management Inc has a fifty-two week low of $20.00 and a fifty-two week high of $24.52. The company has a market cap of $17.38 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 5.97 and a beta of 1.16. The business's 50 day moving average price is $22.85 and its 200-day moving average price is $22.38.

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

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.75 dividend. The ex-dividend date was Tuesday, June 30th. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. Annaly Capital Management's dividend payout ratio (DPR) is currently 75.19%.

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.

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