Deutsche Bank AG Reduces Position in Annaly Capital Management Inc $NLY

Key Points

• Deutsche Bank reduced its Annaly Capital Management stake by 19% in the second quarter, selling 327,803 shares and retaining 1.39 million shares worth approximately $31.2 million. Institutional investors collectively own 51.56% of the company.
• Analyst sentiment remains favorable, with Annaly carrying a consensus “Moderate Buy” rating and an average price target of $24.33. The stock recently traded at $23.17, within its $20.00–$24.52 12-month range.
• Annaly reported quarterly EPS of $0.79, beating estimates by $0.04, and increased its quarterly dividend to $0.75 from $0.70. The new annualized dividend of $3.00 represents a yield of approximately 12.9%.

Deutsche Bank AG trimmed its position in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 19.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,394,967 shares of the real estate investment trust's stock after selling 327,803 shares during the period. Deutsche Bank AG owned 0.19% of Annaly Capital Management worth $31,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Investments LLC acquired a new position in Annaly Capital Management in the 4th quarter worth approximately $7,946,000. Vanguard Group Inc. boosted its holdings in shares of Annaly Capital Management by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust's stock valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Annaly Capital Management by 3.9% in the fourth quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust's stock worth $44,379,000 after acquiring an additional 74,074 shares during the period. DNB Asset Management AS increased its stake in shares of Annaly Capital Management by 165.4% in the fourth quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust's stock worth $7,514,000 after acquiring an additional 209,435 shares during the period. Finally, Norges Bank acquired a new stake in Annaly Capital Management during the 4th quarter worth about $162,477,000. Institutional investors and hedge funds own 51.56% of the company's stock.

Analyst Upgrades and Downgrades

NLY has been the subject of several analyst reports. Wall Street Zen upgraded shares of Annaly Capital Management from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Zacks Research raised shares of Annaly Capital Management from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 29th. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 17th. Wells Fargo & Company dropped their price objective on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a research note on Thursday, July 23rd. Finally, Piper Sandler increased their price target 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. Two investment 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, Annaly Capital Management presently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

Annaly Capital Management Trading Down 0.5%

Annaly Capital Management stock opened at $23.17 on Friday. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 6.08 and a beta of 1.16. The stock has a 50 day moving average of $22.79 and a two-hundred day moving average of $22.38. Annaly Capital Management Inc has a twelve month low of $20.00 and a twelve month high of $24.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS for the quarter, topping the consensus estimate 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 net margin of 43.66% and a return on equity of 16.00%. Equities analysts predict that Annaly Capital Management Inc will post 3.09 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.75 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from Annaly Capital Management's previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 12.9%. 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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