Freestone Grove Partners LP Makes New $2.32 Million Investment in Annaly Capital Management Inc $NLY

Key Points

• Freestone Grove Partners initiated a $2.32 million position in Annaly Capital Management during the second quarter, while institutional investors collectively own 51.56% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $24.33, despite some firms lowering their targets.
• Annaly reported quarterly EPS of $0.79, exceeding estimates, and increased its quarterly dividend to $0.75 per share, representing a 13.0% annualized yield.

Freestone Grove Partners LP bought a new position in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 103,892 shares of the real estate investment trust's stock, valued at approximately $2,323,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Man Group plc purchased a new position in shares of Annaly Capital Management in the 2nd quarter valued at about $5,853,000. Invst LLC increased its holdings in Annaly Capital Management by 10.1% in the second quarter. Invst LLC now owns 37,616 shares of the real estate investment trust's stock valued at $841,000 after buying an additional 3,452 shares in the last quarter. First Bancorp Inc ME purchased a new position in Annaly Capital Management in the second quarter valued at about $100,000. Jupiter Topco LLC acquired a new stake in shares of Annaly Capital Management during the 2nd quarter valued at approximately $711,000. Finally, Hsbc Holdings PLC lifted its position in shares of Annaly Capital Management by 215.8% during the 2nd quarter. Hsbc Holdings PLC now owns 858,481 shares of the real estate investment trust's stock valued at $19,288,000 after acquiring an additional 586,611 shares during the period. 51.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price target on Annaly Capital Management from $24.50 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price objective on Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, July 24th. BTIG Research set a $24.00 target price on Annaly Capital Management in a research report on Wednesday, June 17th. Zacks Research raised Annaly Capital Management from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company dropped their price target on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $23.07 on Friday. The firm's 50-day moving average is $22.86 and its two-hundred day moving average is $22.39. The company has a market capitalization of $17.39 billion, a PE ratio of 5.78, a price-to-earnings-growth ratio of 6.02 and a beta of 1.16. Annaly Capital Management Inc has a 12-month low of $20.00 and a 12-month high of $24.52.

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

Annaly Capital Management Increases Dividend

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

Annaly Capital Management Company 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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