Diversify Wealth Management LLC Purchases New Shares in Annaly Capital Management Inc $NLY

Key Points

• Diversify Wealth Management LLC opened a new position in Annaly Capital Management during the first quarter, buying 60,027 shares worth about $1.35 million.
• Annaly Capital Management recently raised its quarterly dividend to $0.75 per share from $0.70, equal to a $3.00 annualized payout and a 13.0% yield.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $24.44.

Diversify Wealth Management LLC purchased a new position in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 60,027 shares of the real estate investment trust's stock, valued at approximately $1,353,000.

A number of other hedge funds have also recently added to or reduced their stakes in NLY. Fourth Dimension Wealth LLC grew its stake in shares of Annaly Capital Management by 76.9% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Root Financial Partners LLC raised its position in Annaly Capital Management by 585.6% in the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 1,136 shares during the last quarter. Camelot Portfolios LLC bought a new position in Annaly Capital Management in the 4th quarter worth approximately $29,000. Mcguire Capital Advisors Inc. acquired a new position in Annaly Capital Management during the 4th quarter worth $31,000. Finally, TD Private Client Wealth LLC lifted its holdings in Annaly Capital Management by 361.3% during the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,178 shares in the last quarter. Institutional investors own 51.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NLY. Weiss Ratings reissued a "hold (c)" rating on shares of Annaly Capital Management in a research note on Friday, July 10th. BTIG Research set a $24.00 price target on Annaly Capital Management in a research note on Wednesday, June 17th. Piper Sandler raised their price target on Annaly Capital Management from $24.50 to $25.00 and gave the company an "overweight" rating in a report on Thursday, July 2nd. JonesTrading reiterated a "buy" rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Annaly Capital Management from $23.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Annaly Capital Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.44.

Annaly Capital Management Trading Up 0.6%

Shares of NLY opened at $23.16 on Thursday. The stock has a market cap of $16.97 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 6.98 and a beta of 1.16. Annaly Capital Management Inc has a 1 year low of $19.39 and a 1 year high of $24.52. The stock's 50-day moving average price is $22.09 and its two-hundred day moving average price is $22.46.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $341.56 million for the quarter, compared to the consensus estimate of $595.27 million. As a group, equities analysts forecast that Annaly Capital Management Inc will post 3 EPS for the current year.

Annaly Capital Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 13.0%. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, June 30th. Annaly Capital Management's dividend payout ratio (DPR) is 101.35%.

Annaly Capital Management 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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