Legal & General Group Plc Grows Stock Holdings in Annaly Capital Management Inc $NLY

Legal & General Group Plc raised its stake in shares of Annaly Capital Management Inc (NYSE:NLY) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,527,626 shares of the real estate investment trust’s stock after acquiring an additional 396,328 shares during the period. Legal & General Group Plc owned approximately 0.34% of Annaly Capital Management worth $56,518,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Horizon Investments LLC purchased a new position in shares of Annaly Capital Management in the fourth quarter worth about $7,946,000. DNB Asset Management AS boosted its holdings in 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 acquiring an additional 209,435 shares during the period. Vanguard Group Inc. boosted its holdings 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 valued at $1,422,401,000 after acquiring an additional 3,024,564 shares during the period. Norges Bank bought a new position in Annaly Capital Management during the 4th quarter worth approximately $162,477,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Annaly Capital Management by 21.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 642,707 shares of the real estate investment trust’s stock worth $14,718,000 after acquiring an additional 112,462 shares during the last quarter. 51.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NLY. Piper Sandler increased their price objective on Annaly Capital Management from $24.50 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Wells Fargo & Company decreased their target price on shares of Annaly Capital Management from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Annaly Capital Management in a report on Friday, July 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Annaly Capital Management in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Annaly Capital Management from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Annaly Capital Management Stock Up 0.0%

Shares of Annaly Capital Management stock opened at $23.07 on Friday. The company has a market cap of $17.39 billion, a PE ratio of 5.78, a P/E/G ratio of 6.02 and a beta of 1.16. The business has a 50 day moving average of $22.86 and a 200 day moving average of $22.39. Annaly Capital Management Inc has a 52 week low of $20.00 and a 52 week high of $24.52.

Annaly Capital Management (NYSE:NLY) last issued its quarterly earnings data on Tuesday, July 21st. The real estate investment trust reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Annaly Capital Management had a net margin of 43.66% and a return on equity of 16.00%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $639.80 million. On average, research analysts anticipate that Annaly Capital Management Inc will post 3.09 earnings per share for the current year.

Annaly Capital Management Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a dividend of $0.75 per share. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 13.0%. The ex-dividend date was Tuesday, June 30th. Annaly Capital Management’s dividend payout ratio is presently 75.19%.

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.