Renaissance Technologies LLC Acquires 187,707 Shares of Annaly Capital Management Inc $NLY

Key Points

• Renaissance Technologies increased its Annaly Capital Management stake by 72.1% in the first quarter, acquiring 187,707 shares for a total holding of 448,222 shares valued at approximately $9.48 million.
• Institutional ownership remains significant at 51.56%, with Goldman Sachs making the largest reported increase among other major investors.
• Analysts maintain a generally positive outlook, with Annaly carrying a “Moderate Buy” consensus rating and an average price target of $24.33. The company also raised its quarterly dividend to $0.75 per share, representing a 13.2% annualized yield.

Renaissance Technologies LLC grew its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 72.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,222 shares of the real estate investment trust's stock after acquiring an additional 187,707 shares during the quarter. Renaissance Technologies LLC owned 0.06% of Annaly Capital Management worth $9,480,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NLY. AQR Capital Management LLC lifted its holdings in Annaly Capital Management by 111.8% during the first quarter. AQR Capital Management LLC now owns 56,803 shares of the real estate investment trust's stock worth $1,154,000 after acquiring an additional 29,978 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Annaly Capital Management by 39.4% during the first quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the real estate investment trust's stock worth $302,000 after acquiring an additional 4,205 shares during the period. Millennium Management LLC raised its stake in shares of Annaly Capital Management by 17.4% in the 1st quarter. Millennium Management LLC now owns 541,733 shares of the real estate investment trust's stock valued at $11,003,000 after purchasing an additional 80,481 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Annaly Capital Management by 20.8% in the first quarter. NewEdge Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $362,000 after purchasing an additional 3,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Annaly Capital Management by 833.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,920,617 shares of the real estate investment trust's stock valued at $59,318,000 after purchasing an additional 2,607,784 shares in the last quarter. Institutional investors own 51.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BTIG Research set a $24.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 17th. Piper Sandler raised their target price on shares of Annaly Capital Management from $24.50 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating and set a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Annaly Capital Management in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Annaly Capital Management from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Annaly Capital Management presently has an average rating of "Moderate Buy" and an average target price of $24.33.

Annaly Capital Management Stock Performance

Shares of NYSE:NLY opened at $22.73 on Monday. Annaly Capital Management Inc has a 52-week low of $20.00 and a 52-week high of $24.52. The company has a market capitalization of $17.13 billion, a P/E ratio of 5.70, a price-to-earnings-growth ratio of 5.93 and a beta of 1.16. The company has a 50-day simple moving average of $22.30 and a 200 day simple moving average of $22.44.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $639.80 million. As a group, equities analysts forecast that Annaly Capital Management Inc will post 3.09 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.00 annualized dividend and a yield of 13.2%. This is a positive change from Annaly Capital Management's previous quarterly dividend of $0.70. Annaly Capital Management's payout ratio is 75.19%.

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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