Illinois Municipal Retirement Fund Acquires 67,337 Shares of Annaly Capital Management Inc $NLY

Key Points

• Illinois Municipal Retirement Fund boosted its stake in Annaly Capital Management by 49.2% in the first quarter, buying 67,337 more shares and bringing its total holdings to 204,187 shares worth about $4.32 million.
• Annaly reported better-than-expected quarterly earnings of $0.76 per share, though revenue came in below analyst estimates. Analysts currently have a Moderate Buy consensus on the stock with an average price target of $24.67.
• The company raised its quarterly dividend to $0.75 per share from $0.70, implying a 13.0% annualized yield. However, the payout ratio is high at 101.35%, which may raise sustainability concerns.

Illinois Municipal Retirement Fund lifted its holdings in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,187 shares of the real estate investment trust's stock after purchasing an additional 67,337 shares during the period. Illinois Municipal Retirement Fund's holdings in Annaly Capital Management were worth $4,319,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC lifted its position in shares of Annaly Capital Management by 76.9% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust's stock worth $26,000 after buying an additional 500 shares during the last quarter. Camelot Portfolios LLC bought a new stake in shares of Annaly Capital Management during the 4th quarter worth about $29,000. Root Financial Partners LLC increased its holdings in shares of Annaly Capital Management by 585.6% during the 1st quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 1,136 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of Annaly Capital Management during the 4th quarter valued at about $31,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of 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 valued at $34,000 after acquiring an additional 1,178 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Annaly Capital Management Stock Performance

Annaly Capital Management stock opened at $23.02 on Friday. The business's 50-day simple moving average is $22.12 and its 200-day simple moving average is $22.46. The firm has a market capitalization of $16.87 billion, a PE ratio of 7.78, a PEG ratio of 6.98 and a beta of 1.16. Annaly Capital Management Inc has a 52 week low of $19.70 and a 52 week high of $24.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%.The business had revenue of $341.56 million during the quarter, compared to analysts' expectations of $595.27 million. Research analysts forecast that Annaly Capital Management Inc will post 3.02 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend 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 is presently 101.35%.

Analyst Ratings Changes

NLY has been the subject of several analyst reports. UBS Group restated a "neutral" rating and issued a $23.00 target price (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. Wall Street Zen raised Annaly Capital Management from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $25.00 price target on shares of Annaly Capital Management in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price target on shares of Annaly Capital Management from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday. Finally, JonesTrading restated a "buy" rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.67.

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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