Annaly Capital Management Inc. (NYSE:NLY) dropped 1.6% on Thursday . The stock traded as low as $11.06 and last traded at $11.07, with a volume of 3,222,559 shares trading hands. The stock had previously closed at $11.25.

NLY has been the subject of several recent research reports. Deutsche Bank AG reissued a “hold” rating on shares of Annaly Capital Management in a research note on Wednesday, April 13th. Zacks Investment Research cut Annaly Capital Management from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Compass Point cut Annaly Capital Management from a “neutral” rating to a “sell” rating and set a $10.50 target price for the company. in a research note on Wednesday, June 15th. FBR & Co reaffirmed a “buy” rating and set a $12.00 target price on shares of Annaly Capital Management in a research note on Friday, May 6th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $11.00 target price on shares of Annaly Capital Management in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.05.

The company’s market cap is $11.04 billion. The firm’s 50-day moving average price is $10.92 and its 200-day moving average price is $10.48.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. During the same period in the prior year, the firm earned $0.41 EPS. Equities research analysts forecast that Annaly Capital Management Inc. will post $1.20 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Thursday, June 30th were issued a $0.30 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $1.20 dividend on an annualized basis and a yield of 10.82%.

Other institutional investors recently made changes to their positions in the company. I.G. Investment Management LTD. boosted its position in shares of Annaly Capital Management by 29.3% in the fourth quarter. I.G. Investment Management LTD. now owns 191,882 shares of the company’s stock worth $1,800,000 after buying an additional 43,479 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of Annaly Capital Management by 7.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 117,193 shares of the company’s stock worth $1,099,000 after buying an additional 7,979 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in shares of Annaly Capital Management by 25.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 240,443 shares of the company’s stock worth $2,452,000 after buying an additional 48,415 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of Annaly Capital Management by 499.1% in the fourth quarter. Bridgewater Associates LP now owns 257,000 shares of the company’s stock worth $2,411,000 after buying an additional 214,100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Annaly Capital Management by 187.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 943,684 shares of the company’s stock worth $8,852,000 after buying an additional 615,396 shares in the last quarter.

Annaly Capital Management, Inc (Annaly) is a mortgage real estate investment trust (REIT). The Company’s principal business objectives are to generate net income for distribution to its stockholders from its investments and capital preservation. Its portfolio also includes residential credit investments, such as credit risk transfer securities and non-agency mortgage-backed securities.

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