QRG Capital Management Inc. Reduces Stock Holdings in Annaly Capital Management Inc $NLY

QRG Capital Management Inc. lowered its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 43.6% during the third quarter, Holdings Channel reports. The firm owned 256,691 shares of the real estate investment trust’s stock after selling 198,368 shares during the period. QRG Capital Management Inc.’s holdings in Annaly Capital Management were worth $5,188,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Evergreen Capital Management LLC acquired a new stake in Annaly Capital Management during the 3rd quarter worth $301,000. Kingstone Capital Partners Texas LLC boosted its stake in Annaly Capital Management by 12.0% in the third quarter. Kingstone Capital Partners Texas LLC now owns 12,676 shares of the real estate investment trust’s stock valued at $256,000 after acquiring an additional 1,362 shares in the last quarter. Jackson Hole Capital Partners LLC grew its holdings in shares of Annaly Capital Management by 7.6% during the third quarter. Jackson Hole Capital Partners LLC now owns 142,891 shares of the real estate investment trust’s stock worth $2,888,000 after purchasing an additional 10,095 shares during the last quarter. Elevate Capital Advisors LLC acquired a new stake in shares of Annaly Capital Management during the third quarter worth about $247,000. Finally, Plan Group Financial LLC lifted its holdings in shares of Annaly Capital Management by 18.2% in the 3rd quarter. Plan Group Financial LLC now owns 94,689 shares of the real estate investment trust’s stock valued at $1,914,000 after purchasing an additional 14,549 shares during the last quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Price Performance

Annaly Capital Management stock opened at $24.38 on Monday. The business has a 50 day simple moving average of $22.61 and a 200-day simple moving average of $21.46. Annaly Capital Management Inc has a 12 month low of $16.59 and a 12 month high of $24.40. The stock has a market capitalization of $16.65 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 7.53 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last posted its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $493.55 million. Annaly Capital Management had a net margin of 26.68% and a return on equity of 15.96%. As a group, equities research analysts anticipate that Annaly Capital Management Inc will post 2.81 EPS for the current year.

Annaly Capital Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend is Wednesday, December 31st. Annaly Capital Management’s dividend payout ratio is currently 129.63%.

Wall Street Analyst Weigh In

NLY has been the topic of a number of research reports. Barclays set a $23.00 price target on Annaly Capital Management and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Jones Trading reissued a “buy” rating and issued a $22.00 price objective on shares of Annaly Capital Management in a report on Thursday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $23.50) on shares of Annaly Capital Management in a report on Thursday. BTIG Research upgraded shares of Annaly Capital Management from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Annaly Capital Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.81.

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.