Wellington Management Group LLP Acquires 178,634 Shares of Annaly Capital Management Inc $NLY

Key Points

• Wellington Management increased its Annaly Capital Management stake by 21.8% in the second quarter, adding 178,634 shares for a total holding of 999,489 shares valued at approximately $22.35 million. Institutional investors collectively own 51.56% of Annaly’s stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $24.33. Ratings include one Strong Buy, seven Buys, and four Holds.
• Annaly reported quarterly EPS of $0.79, exceeding the $0.75 consensus estimate, and raised its quarterly dividend to $0.75 per share. The annualized dividend is $3.00, representing a yield of about 13.1%.

Wellington Management Group LLP increased its holdings in shares of Annaly Capital Management Inc (NYSE:NLY - Free Report) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 999,489 shares of the real estate investment trust's stock after acquiring an additional 178,634 shares during the quarter. Wellington Management Group LLP owned about 0.13% of Annaly Capital Management worth $22,349,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Annaly Capital Management during the 2nd quarter valued at $184,000. Public Employees Retirement System of Ohio bought a new position in shares of Annaly Capital Management in the second quarter valued at about $4,677,000. Corient Private Wealth LP raised its position in shares of Annaly Capital Management by 38.2% in the second quarter. Corient Private Wealth LP now owns 47,350 shares of the real estate investment trust's stock valued at $1,060,000 after purchasing an additional 13,082 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Annaly Capital Management during the 2nd quarter worth about $2,323,000. Finally, Man Group plc acquired a new stake in shares of Annaly Capital Management during the 2nd quarter worth about $5,853,000. Institutional investors own 51.56% of the company's stock.

Wall Street Analyst Weigh In

NLY has been the topic of several research analyst reports. Zacks Research cut shares of Annaly Capital Management from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. JPMorgan Chase & Co. reduced their price objective on 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 reiterated an "outperform" rating and set a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, June 3rd. 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. Finally, BTIG Research set a $24.00 price target on Annaly Capital Management in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.33.

Annaly Capital Management Stock Performance

NYSE:NLY opened at $22.84 on Friday. Annaly Capital Management Inc has a 52 week low of $20.00 and a 52 week high of $24.52. The firm's 50-day simple moving average is $22.90 and its 200 day simple moving average is $22.39. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 1.79 and a beta of 1.16.

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

Annaly Capital Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.75 per share. This is a boost from Annaly Capital Management's previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, June 30th. This represents a $3.00 dividend on an annualized basis and a yield of 13.1%. Annaly Capital Management's dividend payout ratio is 75.19%.

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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