Northern Trust Corp Sells 241,241 Shares of Annaly Capital Management Inc $NLY

Key Points

• Northern Trust Corp has reduced its holdings in Annaly Capital Management by 3.2%, selling 241,241 shares in the first quarter, leaving it with 7,346,340 shares valued at $149.2 million.
• Recent analyst reports have led to varying ratings on Annaly Capital Management, with seven analysts recommending a Buy and a consensus target price of $20.72.
• Annaly Capital Management recently declared a quarterly dividend of $0.70 per share, yielding 13.2% annually, despite a payout ratio of 277.23%.

Northern Trust Corp lowered its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,346,340 shares of the real estate investment trust's stock after selling 241,241 shares during the period. Northern Trust Corp owned 1.23% of Annaly Capital Management worth $149,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. increased its holdings in shares of Annaly Capital Management by 18.6% in the first quarter. Raymond James Financial Inc. now owns 821,476 shares of the real estate investment trust's stock valued at $16,684,000 after purchasing an additional 128,813 shares in the last quarter. Ethic Inc. increased its holdings in shares of Annaly Capital Management by 1.5% in the first quarter. Ethic Inc. now owns 54,848 shares of the real estate investment trust's stock valued at $1,102,000 after purchasing an additional 800 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Annaly Capital Management by 126.8% in the first quarter. Aberdeen Group plc now owns 340,272 shares of the real estate investment trust's stock valued at $6,841,000 after purchasing an additional 190,215 shares in the last quarter. Trivium Point Advisory LLC increased its holdings in shares of Annaly Capital Management by 9.1% in the first quarter. Trivium Point Advisory LLC now owns 44,505 shares of the real estate investment trust's stock valued at $904,000 after purchasing an additional 3,714 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Annaly Capital Management by 4.1% in the first quarter. Sei Investments Co. now owns 1,294,861 shares of the real estate investment trust's stock valued at $23,977,000 after purchasing an additional 50,787 shares in the last quarter. Institutional investors and hedge funds own 51.56% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jones Trading reaffirmed a "buy" rating and set a $21.00 target price on shares of Annaly Capital Management in a report on Thursday, July 24th. Keefe, Bruyette & Woods lifted their target price on shares of Annaly Capital Management from $20.50 to $21.50 and gave the stock an "outperform" rating in a report on Friday, July 25th. Royal Bank Of Canada lowered their target price on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a report on Tuesday, May 27th. Zacks Research lowered shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Piper Sandler lowered their target price on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Annaly Capital Management presently has an average rating of "Moderate Buy" and an average target price of $20.72.

Annaly Capital Management Trading Down 0.5%

Shares of NYSE NLY traded down $0.10 during midday trading on Wednesday, reaching $20.99. 3,376,037 shares of the stock were exchanged, compared to its average volume of 7,688,960. The business has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $19.96. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 4.99 and a beta of 1.20. Annaly Capital Management Inc has a 12 month low of $16.59 and a 12 month 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 announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The company had revenue of $273.20 million for the quarter, compared to analysts' expectations of $237.00 million. Annaly Capital Management had a net margin of 13.76% and a return on equity of 15.53%. As a group, equities research analysts expect that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 13.3%. The ex-dividend date of this dividend was Monday, June 30th. Annaly Capital Management's payout ratio is currently 277.23%.

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.