First Citizens Bank & Trust Co. Increases Stake in Annaly Capital Management Inc $NLY

Key Points

• First Citizens Bank & Trust Co. increased its stake in Annaly Capital Management by 265.6%, owning 55,953 shares valued at $1,053,000 after purchasing an additional 40,649 shares in the second quarter.
• Annaly Capital Management recently announced a quarterly dividend of $0.70, resulting in an annualized total of $2.80, which reflects a high dividend yield of 13.4%.
• The company reported earnings of $0.73 per share for the last quarter, surpassing analysts' expectations, with revenue reaching $885.58 million, significantly above the forecast of $493.55 million.

First Citizens Bank & Trust Co. increased its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 265.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,953 shares of the real estate investment trust's stock after purchasing an additional 40,649 shares during the period. First Citizens Bank & Trust Co.'s holdings in Annaly Capital Management were worth $1,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Diversified Trust Co acquired a new stake in shares of Annaly Capital Management during the first quarter worth $466,000. Bessemer Group Inc. increased its position in shares of Annaly Capital Management by 11.7% in the 1st quarter. Bessemer Group Inc. now owns 7,731 shares of the real estate investment trust's stock valued at $157,000 after acquiring an additional 811 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Annaly Capital Management by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,808,767 shares of the real estate investment trust's stock worth $77,356,000 after acquiring an additional 196,489 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Annaly Capital Management by 8.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 367,519 shares of the real estate investment trust's stock worth $7,464,000 after acquiring an additional 28,570 shares during the period. Finally, Wealthstar Advisors LLC purchased a new stake in Annaly Capital Management during the 1st quarter valued at about $593,000. Institutional investors and hedge funds own 51.56% of the company's stock.

Annaly Capital Management Trading Up 0.3%

Shares of NYSE:NLY opened at $20.96 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.11 and a debt-to-equity ratio of 0.19. Annaly Capital Management Inc has a 12-month low of $16.59 and a 12-month high of $22.45. The business has a 50 day moving average of $21.13 and a two-hundred day moving average of $19.99. The company has a market capitalization of $13.46 billion, a PE ratio of 9.70, a PEG ratio of 4.95 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a net margin of 26.68% and a return on equity of 15.96%. The firm had revenue of $885.58 million during the quarter, compared to analyst estimates of $493.55 million. As a group, analysts forecast that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.4%. Annaly Capital Management's dividend payout ratio is 129.63%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NLY shares. Keefe, Bruyette & Woods raised their price objective on Annaly Capital Management from $20.50 to $21.50 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Jones Trading reissued a "buy" rating and set a $22.00 price target on shares of Annaly Capital Management in a research report on Thursday. Zacks Research cut shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Annaly Capital Management in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of Annaly Capital Management from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.63.

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.

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