Frank Rimerman Advisors LLC Purchases 12,765 Shares of Annaly Capital Management Inc (NYSE:NLY)

Key Points

• Frank Rimerman Advisors LLC increased its stake in Annaly Capital Management by 127.5%, acquiring an additional 12,765 shares, bringing its total to 22,776 shares valued at $463,000.
• Annaly Capital Management reported a quarterly earnings per share of $0.73, slightly exceeding estimates, and achieved a revenue of $273.20 million compared to expectations of $237.00 million.
• The company announced a quarterly dividend of $0.70, yielding 13.6% annually, but has a high payout ratio of 277.23%.

Frank Rimerman Advisors LLC lifted its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 127.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,776 shares of the real estate investment trust's stock after buying an additional 12,765 shares during the period. Frank Rimerman Advisors LLC's holdings in Annaly Capital Management were worth $463,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NLY. Inlight Wealth Management LLC bought a new stake in shares of Annaly Capital Management in the first quarter valued at about $25,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Annaly Capital Management in the first quarter valued at about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Annaly Capital Management in the first quarter worth about $36,000. MCF Advisors LLC raised its position in Annaly Capital Management by 1,087.1% in the first quarter. MCF Advisors LLC now owns 1,745 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 1,598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Annaly Capital Management in the fourth quarter worth about $39,000. Institutional investors own 51.56% of the company's stock.

Annaly Capital Management Stock Up 0.1%

Annaly Capital Management stock opened at $20.60 on Monday. The firm has a market capitalization of $13.22 billion, a PE ratio of 20.39, a P/E/G ratio of 4.88 and a beta of 1.20. The company's 50-day moving average is $19.69 and its 200-day moving average is $19.90. Annaly Capital Management Inc has a fifty-two week low of $16.59 and a fifty-two week high of $22.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. The company had revenue of $273.20 million for the quarter, compared to analyst estimates of $237.00 million. Sell-side analysts anticipate that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.80 dividend on an annualized basis and a yield of 13.6%. Annaly Capital Management's payout ratio is currently 277.23%.

Analyst Ratings Changes

NLY has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada dropped their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Jones Trading reissued a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a research report on Thursday, July 24th. Piper Sandler dropped their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, UBS Group reissued a "neutral" rating and issued a $20.00 price target (up previously from $18.00) on shares of Annaly Capital Management in a research report on Thursday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Annaly Capital Management presently has a consensus rating of "Moderate Buy" and an average price target of $20.72.

Annaly Capital Management Company 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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