Wesbanco Bank Inc. Acquires New Holdings in Annaly Capital Management, Inc. (NYSE:NLY)

Posted by on Mar 28th, 2023

Wesbanco Bank Inc. acquired a new stake in Annaly Capital Management, Inc. (NYSE:NLY – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,993 shares of the real estate investment trust’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in Annaly Capital Management by 166.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 14,866,079 shares of the real estate investment trust’s stock valued at $87,858,000 after acquiring an additional 9,279,874 shares in the last quarter. State Street Corp grew its position in Annaly Capital Management by 14.0% in the 2nd quarter. State Street Corp now owns 34,722,698 shares of the real estate investment trust’s stock valued at $212,614,000 after acquiring an additional 4,263,394 shares in the last quarter. Vanguard Group Inc. grew its position in Annaly Capital Management by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 132,287,354 shares of the real estate investment trust’s stock valued at $931,303,000 after acquiring an additional 3,668,441 shares in the last quarter. Legal & General Group Plc grew its position in Annaly Capital Management by 34.4% in the 2nd quarter. Legal & General Group Plc now owns 14,288,781 shares of the real estate investment trust’s stock valued at $84,449,000 after acquiring an additional 3,657,320 shares in the last quarter. Finally, Centiva Capital LP grew its position in shares of Annaly Capital Management by 110.4% during the second quarter. Centiva Capital LP now owns 208,536 shares of the real estate investment trust’s stock worth $1,232,000 after buying an additional 2,208,536 shares in the last quarter. 52.80% of the stock is currently owned by hedge funds and other institutional investors.

Annaly Capital Management Price Performance

Shares of NYSE NLY opened at $19.13 on Tuesday. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 6.84. Annaly Capital Management, Inc. has a twelve month low of $15.11 and a twelve month high of $29.88. The stock has a 50 day moving average of $21.09 and a two-hundred day moving average of $20.75. The stock has a market cap of $9.44 billion, a P/E ratio of 3.84 and a beta of 1.35.

Annaly Capital Management (NYSE:NLY – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. Annaly Capital Management had a return on equity of 19.23% and a net margin of 62.09%. The company had revenue of $135.09 million during the quarter, compared to analysts’ expectations of $426.09 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 62.6% on a year-over-year basis. On average, research analysts forecast that Annaly Capital Management, Inc. will post 2.85 earnings per share for the current year.

Annaly Capital Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 13.59%. The ex-dividend date of this dividend is Thursday, March 30th. Annaly Capital Management’s dividend payout ratio (DPR) is presently 70.68%.

Analyst Upgrades and Downgrades

NLY has been the subject of a number of analyst reports. Barclays boosted their price objective on Annaly Capital Management from $19.00 to $24.00 in a research report on Friday, January 6th. Royal Bank of Canada boosted their price objective on Annaly Capital Management from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Argus downgraded Annaly Capital Management from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. They noted that the move was a valuation call. Jonestrading assumed coverage on Annaly Capital Management in a research report on Monday, December 19th. They set a “buy” rating and a $22.50 price objective for the company. Finally, StockNews.com assumed coverage on Annaly Capital Management in a research note on Thursday, March 16th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.17.

About Annaly Capital Management

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Annaly Capital Management, Inc engages in the investment and financing of residential and commercial assets. It operates through the following investment groups: Agency, Residential Credit, and Mortgage Servicing Rights. The Agency group invests in agency mortgage-backed securities. The Residential Credit group involves non-agency residential mortgage assets within securitized products and whole loan markets.

See Also

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Institutional Ownership by Quarter for Annaly Capital Management (NYSE:NLY)

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