Summit Global Investments Makes New $285,000 Investment in Annaly Capital Management, Inc. (NYSE:NLY)

Summit Global Investments bought a new position in shares of Annaly Capital Management, Inc. (NYSE:NLY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,056 shares of the real estate investment trust's stock, valued at approximately $285,000.

Several other large investors also recently bought and sold shares of NLY. Tallon Kerry Patrick acquired a new position in shares of Annaly Capital Management during the 4th quarter worth approximately $671,000. Kingswood Wealth Advisors LLC purchased a new position in Annaly Capital Management during the fourth quarter worth $239,000. Blue Trust Inc. increased its position in Annaly Capital Management by 78.5% during the fourth quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust's stock worth $33,000 after buying an additional 717 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in Annaly Capital Management by 10.8% in the 4th quarter. Clear Creek Financial Management LLC now owns 26,278 shares of the real estate investment trust's stock valued at $481,000 after purchasing an additional 2,553 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in shares of Annaly Capital Management during the fourth quarter valued at approximately $140,000. Institutional investors and hedge funds own 51.56% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NLY. Keefe, Bruyette & Woods raised their price target on Annaly Capital Management from $20.15 to $20.50 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Piper Sandler lowered their target price on shares of Annaly Capital Management from $21.50 to $21.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Royal Bank of Canada dropped 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 restated a "buy" rating and set a $21.00 price objective on shares of Annaly Capital Management in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Annaly Capital Management from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $21.00.

Annaly Capital Management Price Performance

NLY stock traded up $0.06 on Wednesday, reaching $18.99. The company's stock had a trading volume of 3,325,070 shares, compared to its average volume of 8,117,319. Annaly Capital Management, Inc. has a 52 week low of $16.59 and a 52 week high of $22.11. The company has a market capitalization of $11.35 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 4.89 and a beta of 1.25. The firm has a fifty day moving average of $18.96 and a two-hundred day moving average of $19.74.

Annaly Capital Management (NYSE:NLY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The business had revenue of $186.64 million during the quarter, compared to analyst estimates of $418.04 million. As a group, equities analysts expect that Annaly Capital Management, Inc. will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.70 per share. This is a positive change from Annaly Capital Management's previous quarterly dividend of $0.65. This represents a $2.80 dividend on an annualized basis and a yield of 14.74%. The ex-dividend date of this dividend was Monday, March 31st. Annaly Capital Management's dividend payout ratio (DPR) is presently 314.61%.

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.