Park Avenue Securities LLC trimmed its position in Annaly Capital Management, Inc. (NYSE:NLY – Get Rating) by 67.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 20,881 shares of the real estate investment trust’s stock after selling 43,763 shares during the period. Park Avenue Securities LLC’s holdings in Annaly Capital Management were worth $358,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Bank of Montreal Can increased its holdings in Annaly Capital Management by 24.0% in the first quarter. Bank of Montreal Can now owns 381,525 shares of the real estate investment trust’s stock valued at $2,828,000 after purchasing an additional 73,892 shares during the period. MetLife Investment Management LLC acquired a new stake in Annaly Capital Management in the first quarter valued at $199,000. Rhumbline Advisers increased its holdings in Annaly Capital Management by 3.3% in the first quarter. Rhumbline Advisers now owns 1,185,123 shares of the real estate investment trust’s stock valued at $8,343,000 after purchasing an additional 37,762 shares during the period. Yousif Capital Management LLC increased its holdings in Annaly Capital Management by 6.6% in the first quarter. Yousif Capital Management LLC now owns 97,368 shares of the real estate investment trust’s stock valued at $685,000 after purchasing an additional 6,043 shares during the period. Finally, Cibc World Market Inc. acquired a new stake in Annaly Capital Management in the first quarter valued at $163,000. 52.80% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on NLY shares. Jonestrading started coverage on Annaly Capital Management in a report on Monday, December 19th. They issued a “buy” rating and a $22.50 price objective for the company. Piper Sandler decreased their price target on Annaly Capital Management from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, September 30th. UBS Group decreased their price target on Annaly Capital Management to $18.50 in a report on Friday, November 4th. Credit Suisse Group decreased their price target on Annaly Capital Management to $20.00 in a report on Thursday, October 13th. Finally, Wells Fargo & Company decreased their price target on Annaly Capital Management from $26.00 to $18.50 and set an “equal weight” rating for the company in a report on Friday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.55.
Annaly Capital Management Price Performance
Annaly Capital Management (NYSE:NLY – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $344.70 million for the quarter, compared to analysts’ expectations of $424.90 million. Annaly Capital Management had a net margin of 126.07% and a return on equity of 18.29%. The business’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. Equities research analysts expect that Annaly Capital Management, Inc. will post 4.22 EPS for the current fiscal year.
Annaly Capital Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $3.52 annualized dividend and a yield of 15.48%. Annaly Capital Management’s payout ratio is 43.89%.
About Annaly Capital Management
Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance and corporate middle market lending. The company invests in agency mortgage-backed securities, mortgage servicing rights, Agency commercial mortgage-backed securities, non-Agency residential mortgage assets, residential mortgage loans, credit risk transfer securities, corporate debts, and other commercial real estate investments.
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