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 trimmed its holdings in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,663 shares of the real estate investment trust's stock after selling 23,135 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Annaly Capital Management were worth $2,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Annaly Capital Management in the first quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Annaly Capital Management in the first quarter valued at $28,000. MCF Advisors LLC raised its stake in shares of Annaly Capital Management by 1,087.1% in the first 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 acquired a new position in shares of Annaly Capital Management in the first quarter valued at $36,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Annaly Capital Management in the fourth quarter valued at $39,000. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Price Performance

Annaly Capital Management stock traded up $0.05 during mid-day trading on Tuesday, hitting $21.10. 8,184,118 shares of the company were exchanged, compared to its average volume of 6,041,215. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $20.10 and a 200 day moving average of $19.96. Annaly Capital Management Inc has a 1-year low of $16.59 and a 1-year high of $22.11. The company has a market capitalization of $13.54 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 4.99 and a beta of 1.20.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings data 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. Annaly Capital Management had a return on equity of 15.53% and a net margin of 13.76%.The firm had revenue of $273.20 million during the quarter, compared to analyst estimates of $237.00 million. As a group, sell-side analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share for the current year.

Annaly Capital Management Announces Dividend

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

Analyst Upgrades and Downgrades

NLY has been the subject of a number of recent research reports. Royal Bank Of Canada cut their target price on Annaly Capital Management from $22.00 to $21.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Piper Sandler cut their target price on Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. UBS Group restated a "neutral" rating and issued a $20.00 target price (up from $18.00) on shares of Annaly Capital Management in a research note on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on Annaly Capital Management from $20.50 to $21.50 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Jones Trading restated a "buy" rating and issued a $21.00 target price on shares of Annaly Capital Management in a research note on Thursday, July 24th. 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.72.

Annaly Capital Management Company 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.