State Street Corp Purchases 1,272,235 Shares of Annaly Capital Management Inc $NLY

Key Points

• State Street increased its Annaly Capital Management stake by 4.5%, buying 1.27 million shares to hold 29.43 million shares, or 3.9% of NLY. Institutional investors collectively own 51.56% of the stock.
• Annaly reported quarterly earnings of $0.79 per share, exceeding the $0.75 analyst consensus, on $1.82 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $24.33.
• The company declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a 14.3% yield, with payment scheduled for October 30 to shareholders of record on September 30.

State Street Corp increased its position in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,426,379 shares of the real estate investment trust's stock after buying an additional 1,272,235 shares during the period. State Street Corp owned 3.90% of Annaly Capital Management worth $679,468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NLY. BlackRock Inc. increased its position in Annaly Capital Management by 6.7% in the second quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust's stock worth $1,950,230,000 after purchasing an additional 5,485,296 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Annaly Capital Management by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 18,401,487 shares of the real estate investment trust's stock worth $411,031,000 after buying an additional 1,503,559 shares in the last quarter. Norges Bank purchased a new position in shares of Annaly Capital Management in the 4th quarter worth $162,477,000. KBC Group NV increased its holdings in shares of Annaly Capital Management by 44.2% in the 1st quarter. KBC Group NV now owns 4,976,006 shares of the real estate investment trust's stock worth $105,243,000 after buying an additional 1,525,251 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Annaly Capital Management by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,962,690 shares of the real estate investment trust's stock worth $104,961,000 after buying an additional 248,335 shares during the last quarter. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Stock Performance

NLY stock opened at $21.02 on Thursday. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 1.69 and a beta of 1.16. The firm has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $22.26. Annaly Capital Management Inc has a one year low of $20.00 and a one year high of $24.52.

Annaly Capital Management (NYSE:NLY - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.04. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $639.80 million. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. As a group, equities analysts predict that Annaly Capital Management Inc will post 3.09 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 14.3%. The ex-dividend date is Wednesday, September 30th. Annaly Capital Management's dividend payout ratio is currently 75.19%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NLY. JPMorgan Chase & Co. lowered their price target on shares of Annaly Capital Management from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, July 24th. Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 price objective on shares of Annaly Capital Management in a report on Wednesday, June 3rd. Zacks Research downgraded Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, June 17th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Annaly Capital Management in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.33.

About Annaly Capital Management

Annaly Capital Management, Inc is a Maryland-based mortgage real estate investment trust that invests in and manages a portfolio of mortgage-related assets. The company's primary business is providing capital to the U.S. housing market through investments in agency mortgage-backed securities, which are guaranteed by Fannie Mae, Freddie Mac or Ginnie Mae.

In addition to agency securities, Annaly invests in residential credit assets and mortgage servicing rights. These investments provide exposure to different segments of the residential mortgage market, while the company uses financing, hedging and portfolio management strategies to manage interest-rate and other market risks.

Founded in 1996, Annaly primarily operates in the United States and is internally managed.

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