Strait & Sound Wealth Management LLC Buys 8,078 Shares of Annaly Capital Management, Inc. (NYSE:NLY)

Strait & Sound Wealth Management LLC raised its holdings in Annaly Capital Management, Inc. (NYSE:NLY) by 24.5% in the 4th quarter, HoldingsChannel reports. The firm owned 41,048 shares of the real estate investment trust’s stock after purchasing an additional 8,078 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Annaly Capital Management were worth $751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of NLY. Assetmark Inc. bought a new stake in Annaly Capital Management in the fourth quarter valued at about $31,000. Blue Trust Inc. grew its position in shares of Annaly Capital Management by 78.5% during the 4th quarter. Blue Trust Inc. now owns 1,630 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 717 shares during the period. Larson Financial Group LLC raised its position in shares of Annaly Capital Management by 34.4% in the 4th quarter. Larson Financial Group LLC now owns 2,143 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 549 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Annaly Capital Management in the 4th quarter valued at approximately $39,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Annaly Capital Management by 29.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,425 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 549 shares during the period. Institutional investors and hedge funds own 51.56% of the company’s stock.

Annaly Capital Management Stock Performance

Shares of NLY opened at $18.75 on Friday. The stock has a 50 day simple moving average of $19.38 and a 200 day simple moving average of $19.77. Annaly Capital Management, Inc. has a 52-week low of $16.60 and a 52-week high of $22.11. The firm has a market capitalization of $11.20 billion, a PE ratio of 11.79, a P/E/G ratio of 4.89 and a beta of 1.25.

Annaly Capital Management (NYSE:NLY) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Annaly Capital Management had a return on equity of 14.95% and a net margin of 20.70%. The firm had revenue of $186.64 million during the quarter, compared to the consensus estimate of $418.04 million. Equities research analysts predict that Annaly Capital Management, Inc. will post 2.81 EPS for the current fiscal year.

Annaly Capital Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 14.93%. This is an increase from Annaly Capital Management’s previous quarterly dividend of $0.65. Annaly Capital Management’s dividend payout ratio is 314.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Annaly Capital Management from $21.50 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Annaly Capital Management in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on shares of Annaly Capital Management from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods boosted their price target on shares of Annaly Capital Management from $20.15 to $20.50 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, JMP Securities reissued a “market perform” rating on shares of Annaly Capital Management in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.10.

About Annaly Capital Management

Annaly Capital Management, Inc, a diversified capital manager, engages in mortgage finance. The company invests in agency mortgage-backed securities collateralized by residential mortgages; non-agency residential whole loans and securitized products within the residential and commercial markets; mortgage servicing rights; agency commercial mortgage-backed securities; to-be-announced forward contracts; residential mortgage loans; and agency or private label credit risk transfer securities.