Pictet Asset Management Holding SA Buys 45,402 Shares of Annaly Capital Management Inc $NLY

Key Points

• Pictet Asset Management Holding SA increased its Annaly Capital Management stake by 12.1%, buying 45,402 shares to hold 419,836 shares worth approximately $9.4 million. Institutional investors collectively own 51.56% of NLY.
• Analysts maintain a generally positive outlook, with Annaly receiving a “Moderate Buy” consensus rating and an average price target of $24.33, compared with a recent share price of $23.33.
• Annaly exceeded quarterly earnings expectations with $0.79 in EPS versus $0.75 forecast and raised its quarterly dividend to $0.75 per share, representing a $3.00 annualized payout and a 12.9% yield.

Pictet Asset Management Holding SA grew its stake in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) by 12.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 419,836 shares of the real estate investment trust's stock after purchasing an additional 45,402 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Annaly Capital Management worth $9,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NLY. Vanguard Group Inc. grew its stake in shares of Annaly Capital Management by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust's stock valued at $1,422,401,000 after buying an additional 3,024,564 shares in the last quarter. State Street Corp increased its holdings in Annaly Capital Management by 8.4% during the fourth quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust's stock worth $608,994,000 after buying an additional 2,053,451 shares during the last quarter. Geode Capital Management LLC raised its position in Annaly Capital Management by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust's stock worth $411,031,000 after acquiring an additional 1,503,559 shares in the last quarter. Norges Bank bought a new stake in Annaly Capital Management during the fourth quarter worth $162,477,000. Finally, Morgan Stanley raised its position in Annaly Capital Management by 33.5% during the fourth quarter. Morgan Stanley now owns 6,977,329 shares of the real estate investment trust's stock worth $156,013,000 after acquiring an additional 1,751,509 shares in the last quarter. Institutional investors own 51.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NLY. UBS Group reissued a "neutral" rating and issued a $23.00 price objective (up from $22.50) on shares of Annaly Capital Management in a research report on Friday, April 24th. Wells Fargo & Company dropped their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Annaly Capital Management in a report on Wednesday, June 3rd. JPMorgan Chase & Co. cut their target price on shares of Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, July 24th. Finally, Piper Sandler lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management currently has an average rating of "Moderate Buy" and a consensus price target of $24.33.

Annaly Capital Management Price Performance

Shares of Annaly Capital Management stock opened at $23.33 on Friday. The business has a fifty day simple moving average of $22.61 and a two-hundred day simple moving average of $22.40. Annaly Capital Management Inc has a 1 year low of $20.00 and a 1 year high of $24.52. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 5.85, a P/E/G ratio of 6.11 and a beta of 1.16.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 EPS 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 firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $639.80 million. As a group, equities analysts anticipate that Annaly Capital Management Inc will post 3.09 earnings per share 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. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.9%. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. Annaly Capital Management's dividend payout ratio is 75.19%.

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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