Cane Capital Partners LLC Takes $1.10 Million Position in Annaly Capital Management Inc $NLY

Cane Capital Partners LLC bought a new stake in shares of Annaly Capital Management Inc (NYSE:NLY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,028 shares of the real estate investment trust’s stock, valued at approximately $1,096,000.

Several other hedge funds have also recently made changes to their positions in NLY. Delos Wealth Advisors LLC purchased a new position in shares of Annaly Capital Management during the second quarter valued at approximately $28,000. Evolution Wealth Management Inc. purchased a new position in shares of Annaly Capital Management during the second quarter valued at approximately $29,000. MCF Advisors LLC increased its stake in shares of Annaly Capital Management by 41.6% during the third quarter. MCF Advisors LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 496 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of Annaly Capital Management by 273.4% during the third quarter. Atlantic Union Bankshares Corp now owns 1,867 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,367 shares during the period. Finally, Elevation Wealth Partners LLC purchased a new position in shares of Annaly Capital Management during the fourth quarter valued at approximately $39,000. 51.56% of the stock is owned by hedge funds and other institutional investors.

Annaly Capital Management Stock Down 1.0%

Shares of NLY stock opened at $21.20 on Wednesday. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 6.57 and a beta of 1.23. The business’s fifty day moving average is $22.38 and its 200 day moving average is $22.19. Annaly Capital Management Inc has a twelve month low of $16.59 and a twelve month high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Annaly Capital Management had a return on equity of 15.80% and a net margin of 34.02%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $567.67 million. Equities research analysts expect that Annaly Capital Management Inc will post 2.81 earnings per share for the current fiscal year.

Annaly Capital Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Annaly Capital Management’s payout ratio is 100.72%.

Insider Buying and Selling at Annaly Capital Management

In other Annaly Capital Management news, CFO Serena Wolfe sold 16,536 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $23.14, for a total value of $382,643.04. Following the sale, the chief financial officer directly owned 173,081 shares of the company’s stock, valued at approximately $4,005,094.34. The trade was a 8.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Steven Francis Campbell sold 26,491 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $22.83, for a total value of $604,789.53. Following the completion of the sale, the chief operating officer directly owned 178,000 shares in the company, valued at $4,063,740. This trade represents a 12.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,252 shares of company stock worth $1,639,995 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NLY shares. Keefe, Bruyette & Woods boosted their target price on Annaly Capital Management from $23.25 to $25.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Argus raised Annaly Capital Management to a “strong-buy” rating in a research note on Thursday, February 5th. Barclays set a $24.00 price target on Annaly Capital Management and gave the stock an “equal weight” rating in a research note on Friday, January 30th. BTIG Research raised Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, January 6th. Finally, Piper Sandler reduced their price target on Annaly Capital Management from $25.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Annaly Capital Management currently has an average rating of “Moderate Buy” and an average target price of $23.78.

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.