Independent Financial Group LLC Acquires New Shares in Annaly Capital Management Inc $NLY

Key Points

• Independent Financial Group LLC initiated a new position in Annaly Capital Management, buying 186,184 shares worth about $3.94 million in the first quarter.
• Annaly recently raised its quarterly dividend to $0.75 per share from $0.70, implying an annualized payout of $3.00 and a 13.0% yield.
• Analysts remain broadly positive on NLY, with a consensus rating of “Moderate Buy” and an average price target of $24.67, slightly above the recent trading price of $23.02.

Independent Financial Group LLC bought a new stake in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 186,184 shares of the real estate investment trust's stock, valued at approximately $3,938,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fourth Dimension Wealth LLC lifted its holdings in shares of Annaly Capital Management by 76.9% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Annaly Capital Management by 585.6% during the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 1,136 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Annaly Capital Management in the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new stake in Annaly Capital Management in the 4th quarter worth about $31,000. Finally, TD Private Client Wealth LLC raised its position in Annaly Capital Management by 361.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,178 shares during the last quarter. Institutional investors own 51.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NLY. JonesTrading restated a "buy" rating and set a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Annaly Capital Management in a research note on Friday, July 10th. UBS Group reissued a "neutral" rating and set a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a report on Friday, April 24th. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.67.

Annaly Capital Management Stock Performance

NLY stock opened at $23.02 on Friday. Annaly Capital Management Inc has a fifty-two week low of $19.70 and a fifty-two week high of $24.52. The business's 50-day moving average is $22.12 and its two-hundred day moving average is $22.46. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 7.78, a P/E/G ratio of 7.11 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY - Get Free Report) last announced its earnings results on Tuesday, April 21st. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $341.56 million for the quarter, compared to analysts' expectations of $595.27 million. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%. Equities analysts predict that Annaly Capital Management Inc will post 3 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from Annaly Capital Management's previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.0%. Annaly Capital Management's payout ratio is 101.35%.

About Annaly Capital Management

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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