Bank of New York Mellon Corp Raises Stock Position in Annaly Capital Management Inc $NLY

Bank of New York Mellon Corp lifted its holdings in Annaly Capital Management Inc (NYSE:NLY) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,962,690 shares of the real estate investment trust’s stock after buying an additional 248,335 shares during the period. Bank of New York Mellon Corp owned about 0.69% of Annaly Capital Management worth $104,961,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Horizon Investments LLC purchased a new position in shares of Annaly Capital Management during the fourth quarter worth $7,946,000. Vanguard Group Inc. grew its position in Annaly Capital Management by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 63,613,639 shares of the real estate investment trust’s stock worth $1,422,401,000 after purchasing an additional 3,024,564 shares during the period. Legal & General Group Plc grew its position in Annaly Capital Management by 3.9% during the 4th quarter. Legal & General Group Plc now owns 1,984,768 shares of the real estate investment trust’s stock worth $44,379,000 after purchasing an additional 74,074 shares during the period. DNB Asset Management AS raised its stake in shares of Annaly Capital Management by 165.4% during the 4th quarter. DNB Asset Management AS now owns 336,067 shares of the real estate investment trust’s stock valued at $7,514,000 after buying an additional 209,435 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Annaly Capital Management during the 4th quarter valued at about $162,477,000. Institutional investors own 51.56% of the company’s stock.

Annaly Capital Management Trading Down 1.4%

Shares of Annaly Capital Management stock opened at $22.68 on Tuesday. Annaly Capital Management Inc has a twelve month low of $19.75 and a twelve month high of $24.52. The firm has a market capitalization of $16.62 billion, a PE ratio of 7.66, a P/E/G ratio of 6.93 and a beta of 1.16. The firm’s 50-day moving average price is $22.13 and its 200 day moving average price is $22.46.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Tuesday, April 21st. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $341.56 million during the quarter, compared to analyst estimates of $595.27 million. Annaly Capital Management had a return on equity of 15.92% and a net margin of 34.33%. On average, sell-side analysts predict that Annaly Capital Management Inc will post 3.02 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 13.2%. Annaly Capital Management’s dividend payout ratio (DPR) is presently 101.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NLY. JonesTrading restated a “buy” rating and issued a $25.00 target price on shares of Annaly Capital Management in a research note on Wednesday, April 22nd. Piper Sandler lifted their price target on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Wall Street Zen raised Annaly Capital Management from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, BTIG Research set a $24.00 price objective on shares of Annaly Capital Management in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Annaly Capital Management currently has an average rating of “Moderate Buy” and an average price target of $24.67.

Annaly Capital Management 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.