Legal & General Group Plc Grows Position in Annaly Capital Management Inc $NLY

Legal & General Group Plc grew its holdings in shares of Annaly Capital Management Inc (NYSE:NLY) by 18.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,527,626 shares of the real estate investment trust’s stock after purchasing an additional 396,328 shares during the period. Legal & General Group Plc’s holdings in Annaly Capital Management were worth $56,518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NLY. Fourth Dimension Wealth LLC raised its stake in Annaly Capital Management by 76.9% during the fourth quarter. Fourth Dimension Wealth LLC now owns 1,150 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Root Financial Partners LLC boosted its holdings in Annaly Capital Management by 585.6% in the first quarter. Root Financial Partners LLC now owns 1,330 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,136 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Annaly Capital Management in the fourth quarter worth $31,000. TD Private Client Wealth LLC grew its stake in shares of Annaly Capital Management by 361.3% in the fourth quarter. TD Private Client Wealth LLC now owns 1,504 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new position in shares of Annaly Capital Management during the fourth quarter valued at $37,000. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Trading Up 0.0%

Annaly Capital Management stock opened at $23.07 on Friday. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 6.02 and a beta of 1.16. The stock has a fifty day simple moving average of $22.86 and a two-hundred day simple moving average of $22.39. Annaly Capital Management Inc has a 12 month low of $20.00 and a 12 month high of $24.52.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings results on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $639.80 million. Annaly Capital Management had a return on equity of 16.00% and a net margin of 43.66%. On average, equities research analysts forecast that Annaly Capital Management Inc will post 3.09 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a $0.75 dividend. This is a positive change 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 dividend on an annualized basis and a yield of 13.0%. Annaly Capital Management’s payout ratio is presently 75.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NLY shares. BTIG Research set a $24.00 price target on Annaly Capital Management in a research report on Wednesday, June 17th. JPMorgan Chase & Co. cut their price objective on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of Annaly Capital Management in a research note on Friday, July 10th. Piper Sandler lifted their target price on shares of Annaly Capital Management from $24.50 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, Zacks Research raised shares of Annaly Capital Management from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Annaly Capital Management Company 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.