Garner Asset Management Corp Makes New Investment in Annaly Capital Management Inc (NYSE:NLY)

Garner Asset Management Corp acquired 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 Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,294 shares of the real estate investment trust's stock, valued at approximately $514,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bayesian Capital Management LP bought a new position in Annaly Capital Management in the fourth quarter valued at approximately $730,000. Mercer Global Advisors Inc. ADV bought a new position in Annaly Capital Management in the fourth quarter valued at approximately $4,448,000. APG Asset Management N.V. bought a new position in Annaly Capital Management in the fourth quarter valued at approximately $4,909,000. Vanguard Group Inc. lifted its stake in Annaly Capital Management by 12.0% in the fourth quarter. Vanguard Group Inc. now owns 54,721,696 shares of the real estate investment trust's stock valued at $1,001,407,000 after buying an additional 5,859,104 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Annaly Capital Management by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 9,453,133 shares of the real estate investment trust's stock valued at $172,706,000 after buying an additional 814,917 shares in the last quarter. Institutional investors own 51.56% of the company's stock.

Analyst Ratings Changes

NLY has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Jones Trading reaffirmed a "buy" rating and issued a $21.00 price target on shares of Annaly Capital Management in a research note on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Annaly Capital Management from $20.15 to $20.50 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and issued a $20.00 price objective (up previously from $18.00) on shares of Annaly Capital Management in a research report on Thursday, July 10th. Finally, Piper Sandler cut their price objective on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Annaly Capital Management presently has an average rating of "Moderate Buy" and an average target price of $20.90.

Annaly Capital Management Stock Performance

NLY traded up $0.11 during trading on Thursday, reaching $20.56. 6,064,380 shares of the stock were exchanged, compared to its average volume of 7,950,034. The stock has a market cap of $12.28 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 4.48 and a beta of 1.22. Annaly Capital Management Inc has a twelve month low of $16.59 and a twelve month high of $22.11. The stock's 50 day moving average price is $19.32 and its two-hundred day moving average price is $19.73.

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 EPS for the quarter, beating the consensus estimate of $0.72 by $0.01. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $237.00 million. Annaly Capital Management had a net margin of 13.10% and a return on equity of 15.31%. Equities research analysts predict that Annaly Capital Management Inc will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.70 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.62%. Annaly Capital Management's payout ratio is presently 314.61%.

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.