M&T Bank Corp Buys 11,568 Shares of Annaly Capital Management Inc (NYSE:NLY)

M&T Bank Corp grew its stake in Annaly Capital Management Inc (NYSE:NLY) by 49.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,748 shares of the real estate investment trust’s stock after purchasing an additional 11,568 shares during the quarter. M&T Bank Corp’s holdings in Annaly Capital Management were worth $706,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bayesian Capital Management LP bought a new position in Annaly Capital Management during the fourth quarter worth about $730,000. Mercer Global Advisors Inc. ADV bought a new position in Annaly Capital Management during the fourth quarter worth about $4,448,000. APG Asset Management N.V. bought a new position in Annaly Capital Management during the fourth quarter worth about $4,909,000. Vanguard Group Inc. increased its position in Annaly Capital Management by 12.0% during the fourth quarter. Vanguard Group Inc. now owns 54,721,696 shares of the real estate investment trust’s stock worth $1,001,407,000 after acquiring an additional 5,859,104 shares during the period. Finally, Geode Capital Management LLC increased its position in Annaly Capital Management by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 9,453,133 shares of the real estate investment trust’s stock worth $172,706,000 after acquiring an additional 814,917 shares during the period. 51.56% of the stock is owned by institutional investors.

Annaly Capital Management Price Performance

NYSE:NLY opened at $19.46 on Wednesday. The firm’s 50 day simple moving average is $19.27 and its 200 day simple moving average is $19.69. Annaly Capital Management Inc has a one year low of $16.60 and a one year high of $22.11. The company has a market cap of $11.63 billion, a PE ratio of 21.86, a P/E/G ratio of 4.33 and a beta of 1.22.

Annaly Capital Management (NYSE:NLY) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $186.64 million for the quarter, compared to the consensus estimate of $418.04 million. Annaly Capital Management had a net margin of 13.10% and a return on equity of 15.31%. Equities research analysts expect that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 14.39%. The ex-dividend date is Monday, June 30th. Annaly Capital Management’s dividend payout ratio is currently 314.61%.

Analysts Set New Price Targets

NLY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price target on shares of Annaly Capital Management from $20.15 to $20.50 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Royal Bank Of Canada decreased their target price on shares of Annaly Capital Management from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. Piper Sandler decreased their target price on shares of Annaly Capital Management from $21.50 to $21.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $20.00 target price (up from $18.00) on shares of Annaly Capital Management in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.90.

Annaly Capital Management Profile

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.