Envestnet Portfolio Solutions Inc. Cuts Stock Holdings in Annaly Capital Management Inc $NLY

Envestnet Portfolio Solutions Inc. reduced its position in Annaly Capital Management Inc (NYSE:NLY) by 21.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,856 shares of the real estate investment trust’s stock after selling 23,955 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Annaly Capital Management were worth $1,735,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Financial Gravity Companies Inc. bought a new position in shares of Annaly Capital Management in the 2nd quarter valued at about $25,000. Delos Wealth Advisors LLC purchased a new position in Annaly Capital Management in the 2nd quarter worth about $28,000. Evolution Wealth Management Inc. bought a new stake in shares of Annaly Capital Management during the second quarter valued at approximately $29,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Annaly Capital Management in the 2nd quarter worth $34,000. Finally, Assetmark Inc. grew its holdings in Annaly Capital Management by 97.5% during the 2nd quarter. Assetmark Inc. now owns 2,411 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,190 shares in the last quarter. Institutional investors own 51.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NLY shares. Piper Sandler reiterated an “overweight” rating and issued a $25.00 target price (up previously from $23.50) on shares of Annaly Capital Management in a research note on Thursday, January 15th. BTIG Research raised shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, January 6th. Jones Trading reaffirmed a “buy” rating and set a $22.00 price objective on shares of Annaly Capital Management in a research note on Thursday, October 23rd. Barclays set a $23.00 price target on Annaly Capital Management and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Annaly Capital Management from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.81.

Annaly Capital Management Price Performance

Shares of NLY opened at $23.84 on Tuesday. The stock has a market cap of $16.28 billion, a PE ratio of 11.04, a P/E/G ratio of 7.37 and a beta of 1.25. Annaly Capital Management Inc has a 1-year low of $16.59 and a 1-year high of $24.40. The firm has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $21.65.

Annaly Capital Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 11.7%. The ex-dividend date is Wednesday, December 31st. Annaly Capital Management’s payout ratio is currently 129.63%.

About Annaly Capital Management

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.