State of New Jersey Common Pension Fund D Sells 23,135 Shares of Annaly Capital Management Inc $NLY

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Annaly Capital Management Inc by 14.2%, selling 23,135 shares, and now owns 139,663 shares valued at approximately $2.8 million.
• Annaly Capital Management announced a quarterly dividend of $0.70, representing a yield of 13.4%, with a payout ratio of 277.23%.
• Analysts have a consensus rating of "Moderate Buy" for Annaly Capital Management, with a target price averaging $20.72 despite some fluctuations in individual ratings from firms like UBS and Royal Bank of Canada.

State of New Jersey Common Pension Fund D lessened its position in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 14.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,663 shares of the real estate investment trust's stock after selling 23,135 shares during the period. State of New Jersey Common Pension Fund D's holdings in Annaly Capital Management were worth $2,837,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Annaly Capital Management during the 1st quarter valued at about $25,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Annaly Capital Management during the 1st quarter valued at about $28,000. MCF Advisors LLC boosted its stake in shares of Annaly Capital Management by 1,087.1% during the 1st quarter. MCF Advisors LLC now owns 1,745 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 1,598 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Annaly Capital Management during the 1st quarter valued at about $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Annaly Capital Management during the 4th quarter valued at about $39,000. Institutional investors own 51.56% of the company's stock.

Annaly Capital Management Stock Up 0.8%

Shares of Annaly Capital Management stock opened at $20.9050 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $13.42 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 4.92 and a beta of 1.20. Annaly Capital Management Inc has a 52-week low of $16.59 and a 52-week high of $22.11. The company has a 50-day simple moving average of $19.96 and a two-hundred day simple moving average of $19.95.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. The business had revenue of $273.20 million during 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%. On average, analysts anticipate that Annaly Capital Management Inc will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.80 annualized dividend and a yield of 13.4%. Annaly Capital Management's payout ratio is 277.23%.

Wall Street Analysts Forecast Growth

NLY has been the topic of a number of research reports. UBS Group reaffirmed a "neutral" rating and set a $20.00 target price (up previously from $18.00) on shares of Annaly Capital Management in a research note on Thursday, July 10th. Royal Bank Of Canada lowered their price target on shares of Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Jones Trading reissued a "buy" rating and set a $21.00 price target on shares of Annaly Capital Management in a research report on Thursday, July 24th. Piper Sandler lowered their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Annaly Capital Management from $20.50 to $21.50 and gave the company an "outperform" rating in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.72.

About Annaly Capital Management

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.

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