Van ECK Associates Corp Has $69.28 Million Stock Holdings in Annaly Capital Management Inc $NLY

Key Points

• Van ECK Associates increased its Annaly Capital Management stake by 7.2% in the second quarter, holding 3.10 million shares valued at approximately $69.28 million. Institutional investors collectively own 51.56% of NLY.
• Annaly reported quarterly earnings of $0.79 per share, beating analysts’ $0.75 estimate, while revenue reached $1.82 billion versus the $639.8 million consensus forecast.
• The company raised its quarterly dividend to $0.75 per share, representing a 13.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $24.33, compared with a $23.07 share price.

Van ECK Associates Corp raised its stake in Annaly Capital Management Inc (NYSE:NLY - Free Report) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,098,157 shares of the real estate investment trust's stock after purchasing an additional 208,506 shares during the period. Van ECK Associates Corp owned 0.41% of Annaly Capital Management worth $69,275,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NLY. BlackRock Inc. lifted its stake in shares of Annaly Capital Management by 6.7% during the 2nd quarter. BlackRock Inc. now owns 87,219,586 shares of the real estate investment trust's stock worth $1,950,230,000 after buying an additional 5,485,296 shares during the last quarter. State Street Corp grew its stake in Annaly Capital Management by 8.4% in the 4th quarter. State Street Corp now owns 26,425,278 shares of the real estate investment trust's stock valued at $608,994,000 after buying an additional 2,053,451 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $411,031,000 after buying an additional 1,503,559 shares during the last quarter. Norges Bank bought a new position in Annaly Capital Management in the 4th quarter valued at about $162,477,000. Finally, Morgan Stanley raised its holdings in Annaly Capital Management by 33.5% in the 4th quarter. Morgan Stanley now owns 6,977,329 shares of the real estate investment trust's stock valued at $156,013,000 after acquiring an additional 1,751,509 shares during the period. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Stock Up 0.0%

NYSE NLY opened at $23.07 on Friday. The company has a market capitalization of $17.39 billion, a P/E ratio of 5.78, a P/E/G ratio of 6.02 and a beta of 1.16. Annaly Capital Management Inc has a 12-month low of $20.00 and a 12-month high of $24.52. The firm has a 50-day moving average price of $22.86 and a two-hundred day moving average price of $22.39.

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

Annaly Capital Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were given a $0.75 dividend. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.00 annualized dividend and a dividend yield of 13.0%. Annaly Capital Management's dividend payout ratio is 75.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Annaly Capital Management from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, July 23rd. Piper Sandler increased their target price on Annaly Capital Management from $24.50 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. BTIG Research set a $24.00 price target on Annaly Capital Management in a report on Wednesday, June 17th. Royal Bank Of Canada restated an "outperform" rating and issued a $25.00 price target on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. Finally, Zacks Research raised Annaly Capital Management from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

Annaly Capital Management 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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